Credit Union Location in Lefors, Texas

Fund of Mutual Financial Aid of the credit union can be extended by sponsorship contributions from businesses, organizations, including on a returnable basis. Specialization of credit unions to provide financial services to its shareholders requires a particularly strict regulation of membership and acceptable activities. Credit unions of the open type are still controlled by their members, but at the same time provide services to people who are not its members (external customers). 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. Shareholders in corporate organizations are basic credit unions, besides the same union can be a shareholder of several corporate organizations. The supreme body of the World Council of Credit Unions is the Assembly, which elects the president and the board of directors of WOCCU. Credit cooperatives and credit unions exist in many different forms. The main differences relate to the nature of the membership and the opening of a credit institution. U.S. credit unions have another significant difference from the credit cooperatives of farmers: the first have major proportion of short-term loans, the second - long and mostly in real estate.

Credit Union Location in Lefors, Texas

Lefors, Texas have 1 agent Credit Union location in your country. All country.

Specialization of credit unions to provide financial services to its shareholders requires a particularly strict regulation of membership and acceptable activities. 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
Lefors Federal Credit Union, Lefors	117 East 2nd St Lefors, TX 79054 Phone: (806) 835-2773 Routing number: 13777

Credit union is created by a group of members who pursue a common interest. Agreeing to make regular contributions, they create a fund from which can borrow money for investments and replenishment of working capital at favorable interest rates. The difference between credit unions and banks is clearly is apparent when comparing the structure of assets and liabilities of credit unions and banks. To reduce the risk of default on loans members of the credit union shall the joint guarantee. Until the 70's there was a proliferation of the U.S. credit unions due to the increase of their number and the number of shareholders, although it must be acknowledged that there was also and a qualitative growth. Credit Union - one of the most attractive financial institutions for the public being a non-profit alternative to banks.