Money transfer agent locations

The main activities of credit unions, aimed at the organization of mutual aid and social support of citizens is not intended to profit. Specialization of credit unions to provide financial services to its shareholders requires a particularly strict regulation of membership and acceptable activities. The difference between credit unions and banks is clearly is apparent when comparing the structure of assets and liabilities of credit unions and banks. In the U.S. credit unions timely and full repayment of loans is a common phenomenon. Unpaid and delinquent loans are not more than 3% of their amount. Credit union services are available only to its shareholders.


Credit Union Location in Texas

The difference between credit unions and banks is clearly is apparent when comparing the structure of assets and liabilities of credit unions and banks. In the U.S. credit unions timely and full repayment of loans is a common phenomenon. Unpaid and delinquent loans are not more than 3% of their amount. Specialization of credit unions to provide financial services to its shareholders requires a particularly strict regulation of membership and acceptable activities.


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The supreme body of the World Council of Credit Unions is the Assembly, which elects the president and the board of directors of WOCCU. Most modern credit unions represent specialized consumer cooperatives of citizens associated by the principle of social community: place of work, place of residence, profession, or any other shared interest. The specifics of the credit union as a credit consumer cooperative is that it is a form of mutual financial assistance of citizens. Activity of the credit union consists of organizing mutual financial assistance by meeting the needs of its members in the services of saving and obtaining loans. Credit union promotes the effective conservation of personal funds of its members, giving them the loans from the funds of the credit union, as well as the sharing of savings in education, housing, health care and other programs of social support and social development of its members. Credit union services are available only to its shareholders. Initially, the target groups of credit unions were farmers (Raiffeisen), and now they include both individuals (credit unions), and organizations. Unlike banks, in order to use the services of a credit union, you have to become its member, having written an application and having paid thus shares and membership fee.