The uniqueness of credit unions is that they put together the principles and benefits of financial cooperatives, consumer cooperatives and mutual aid funds, born once by trade unions. All the members of the credit union, regardless of gender, ethnicity, religious and political beliefs, as well as the size of the monetary share have equal rights. Until the mid-XX century, credit unions in the United States had little assets that did not exceed, as a rule, 100 thousand dollars Credit unions are competitors of savings institutions, adding interest on deposits of members. This applies to the shares, as well as to additional funds transferred to the account in the credit union. The relationship between credit unions and shareholders arise from the membership and are not customer relationship. In the UK, credit unions are a source of financing of people groups. This tool is not widely used. Credit unions are financial institutions, financial cooperatives of citizens, and in this capacity they are above all associations of people, not unification of capitals, which is typical, for example, for public companies. A potential new member of a credit union must submit a recommendation of shareholders in which the referee becomes a warrant of a future member of the credit union.
Credit Union Location in Galena Park, Texas
Galena Park, Texas have 1 agent Credit Union location in your country. All country.
All the members of the credit union, regardless of gender, ethnicity, religious and political beliefs, as well as the size of the monetary share have equal rights. Credit unions are competitors of savings institutions, adding interest on deposits of members. This applies to the shares, as well as to additional funds transferred to the account in the credit union.
| Agent | Contacts |
|---|---|
| United Community Credit Union, Galena Park |
1700 16th St Galena Park, TX 77547
Phone: (713) 674-5778 Routing number: 68369 |
Today in the UK there are about 700 credit unions with assets exceeding 200 million pounds. Like the credit cooperatives, credit unions form associations of a higher level, which are called corporate credit unions. Typically new members of the credit union become citizens having suretyship or recommendations from their friends - members of the credit union. Credit unions are competitors of savings institutions, adding interest on deposits of members. This applies to the shares, as well as to additional funds transferred to the account in the credit union. Initially, the target groups of credit unions were farmers (Raiffeisen), and now they include both individuals (credit unions), and organizations. Consumer loan and reliable savings - these are the main goals, which mean "natural persons" having decided to unite in credit consumer cooperative. Credit unions base their activities on savings of shareholders, their shares and savings contributions, which make up the fund of mutual financial assistance - a source of cash loans to shareholders. To increase the number of credit unions in 1979 was adopted the corresponding law that serves as the legal basis of their activity.
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