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. First Credit Union was savings unprofitable institution, or rather credit cooperative, providing services to its members. 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. Shareholders in corporate organizations are basic credit unions, besides the same union can be a shareholder of several corporate organizations. Credit Union - a non-profit financial institution specialized in mutual financial assistance by providing savings and credit services to their members.
Credit Union Location in Texas
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. Shareholders in corporate organizations are basic credit unions, besides the same union can be a shareholder of several corporate organizations. First Credit Union was savings unprofitable institution, or rather credit cooperative, providing services to its members.
Select your city for
Credit unions attract people in the first place by the opportunity to get cash loan (credit) - quickly and relatively inexpensively. Credit unions encourage savings of citizens, setting compensation payments (interest) on savings and provide from these savings loans to their members. First Credit Union was savings unprofitable institution, or rather credit cooperative, providing services to its members. 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. 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. The main advantage of credit unions consists in transparency, controllability, governance for shareholders. The supreme body of the World Council of Credit Unions is the Assembly, which elects the president and the board of directors of WOCCU. The right to use the services of the credit union have only its members.