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. Among the U.S. credit unions, there are three groups that differ in terms of assets, shareholders, and business services. Is necessary that all shareholders of the credit union were members of a single community, would know each other well enough to enjoy mutual trust. Typically new members of the credit union become citizens having suretyship or recommendations from their friends - members of the credit union. Credit union as a consumer cooperative operates on the principles of equality of all its members.
Is necessary that all shareholders of the credit union were members of a single community, would know each other well enough to enjoy mutual trust. Typically new members of the credit union become citizens having suretyship or recommendations from their friends - members of the credit union. Among the U.S. credit unions, there are three groups that differ in terms of assets, shareholders, and business services.