Some credit unions are closed, serving only their members. However, the more and more popularitywin cooperatives of open type. Among the U.S. credit unions, there are three groups that differ in terms of assets, shareholders, and business services. Income derived from the provision of services to its members, does not become the profit of credit union and is distributed among its members in proportion to their savings. Contributions from of shareholders in credit unions in no way can be considered as borrowed funds, they come from the shareholders and for the shareholders and can not be used to provide services to third parties. The value of credit unions is not limited to the role of the economic agent - they are an important element of the social structure and a factor of social stability and progress. Important specifics of creating a credit union - an initiative order of organization: people do not receive any instructions, orders or regulations, the unification into a credit union occurs by their will and decision.
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Income derived from the provision of services to its members, does not become the profit of credit union and is distributed among its members in proportion to their savings. Contributions from of shareholders in credit unions in no way can be considered as borrowed funds, they come from the shareholders and for the shareholders and can not be used to provide services to third parties. Among the U.S. credit unions, there are three groups that differ in terms of assets, shareholders, and business services.
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The difference between credit unions and banks is clearly is apparent when comparing the structure of assets and liabilities of credit unions and banks. Credit union services are available only to its shareholders. Contributions from of shareholders in credit unions in no way can be considered as borrowed funds, they come from the shareholders and for the shareholders and can not be used to provide services to third parties. In some cases, the initiators of credit unions can be trade unions, associations such as social support centers and others. Standards by which credit unions build their work do not coincide with the standards and regulations of consumer cooperation of the usual type.