Like any financial institution, credit unions have the financial resources. The first credit union in the United States was founded in 1909. by the group of Franco-American Catholics in Manchester, New Hampshire, and was called "Cooperative Credit Association of St. Mary. " Credit union services are available only to its shareholders. National Credit Union Insurance Fund was created by Congress in 1970 to insure deposits of credit union members in the amount of 100 thousand dollars. 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). Credit unions are financial institutions, financial cooperatives of citizens, and in this capacity they are above all associations of people, not unification of capitals, which is typical, for example, for public companies.
Credit Union Location in Slaton, Texas
Slaton, Texas have 1 agent Credit Union location in your country. All country.
The first credit union in the United States was founded in 1909. by the group of Franco-American Catholics in Manchester, New Hampshire, and was called "Cooperative Credit Association of St. Mary. " National Credit Union Insurance Fund was created by Congress in 1970 to insure deposits of credit union members in the amount of 100 thousand dollars.
| Agent | Contacts |
|---|---|
| Caprock Santa Fe Credit Union, Slaton |
405 Railroad Ave Slaton, TX 79364
Phone: (806) 828-5825 Routing number: 67441 |
The first credit union in the United States was founded in 1909. by the group of Franco-American Catholics in Manchester, New Hampshire, and was called "Cooperative Credit Association of St. Mary. " Representative organization, leading the coordination work in the field of development of both global and national credit union movement is the World Council of Credit Unions (WOCCU) established in 1971 (headquartered in Madison, USA). 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. The economic basis of credit unions - finances of a household. The main objective of the credit union - to ensure financial stability of a household, to ensure the priority of their shareholders' financial interests. 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. To reduce the risk of default on loans members of the credit union shall the joint guarantee. Credit unions encourage the proper use of shareholders savings, developing social programs (education, health, recreation, housing, etc.). Credit Union - one of the most attractive financial institutions for the public being a non-profit alternative to banks. A potential new member of a credit union must submit a recommendation of shareholders in which the referee becomes a warrant of a future member of the credit union.
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