In the U.S., credit unions have a clear organizational structure. All credit unions belong to one or the other parent credit union (there are 35 of them in the U.S.). Share contributions are transferred to the credit union on the basis of membership for the whole stay of a shareholder as member of the credit union and are the basis of membership. Until the mid-XX century, credit unions in the United States had little assets that did not exceed, as a rule, 100 thousand dollars 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. Unlike banks credit unions limit their activities to a closed circle of people.
Galveston, Texas have 3 agent Credit Union location in your country. All country.
Share contributions are transferred to the credit union on the basis of membership for the whole stay of a shareholder as member of the credit union and are the basis of membership. 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.
Agent | Contacts |
---|---|
Coastal Community Federal Credit Union, Galveston |
2302 Church Street Galveston, TX 77550
Phone: (409) 765-6067 Routing number: 11927 |
Electrical Workers No 527 Federal Credit Union, Galveston |
6820 Texas Ave Texas City, TX 77591
Phone: (409) 935-2341 Routing number: 15419 |
Galveston School Employees Federal Credit Union, Galveston |
5200 Avenue N 1/2 Galveston, TX 77551
Phone: (409) 762-4974 Routing number: 07092 |
Some credit unions are closed, serving only their members. However, the more and more popularitywin cooperatives of open type. Like the credit cooperatives, credit unions form associations of a higher level, which are called corporate credit unions. First Credit Union was savings unprofitable institution, or rather credit cooperative, providing services to its members. Among the U.S. credit unions, there are three groups that differ in terms of assets, shareholders, and business services. The main advantage of credit unions consists in transparency, controllability, governance for shareholders. The relationship of shareholders with credit union are not client-based, they are co-operative, based on different principles and standards, in particular, on the principles of the law of obligations. As of the January 1, 2012 the national associations and confederations unite more than 196 million members participating in the 51,013 credit unions in 100 countries. Taking a decision to join a credit union, citizens create an organization through which they participate in the shared savings by mutual crediting and joint (collective) use of personal savings. Standards by which credit unions build their work do not coincide with the standards and regulations of consumer cooperation of the usual type. To increase the number of credit unions in 1979 was adopted the corresponding law that serves as the legal basis of their activity.