Money transfer agent locations

National Credit Union Administration (NCUA) - an independent federal agency, based in Washington (State of Columbia), established by the U.S. Congress to oversee the federal credit union system. Main share of credit unions assets is concentrated in loans (about 50%), while the share of consumer loans in commercial banks and finance companies active operations rarely exceeds 15%. The most common type of loans in credit unions are loans to purchase new and used cars (40%), followed by first mortgages and second mortgages (35%), about 10% are unsecured personal loans to member of unions and about 15% - are loans on credit cards and other loans. Credit unions attract people in the first place by the opportunity to get cash loan (credit) - quickly and relatively inexpensively. 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. In the credit union compensation for use of the loan (interest) is a source of compensation for savings. Corporate alliances are intermediaries between credit unions and financial markets. 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. In the case of default the shareholder - individual will respond with its property and, in addition, is jointly and severally liable with the credit union's commitments. 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. Membership in the credit union is voluntary and is open to all citizens bound by with joint work or residence, who wished to create a credit union to use its services and are willing to take on relevant commitments and responsibilities.


Credit Union Location in Utah

Credit unions attract people in the first place by the opportunity to get cash loan (credit) - quickly and relatively inexpensively. 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. Main share of credit unions assets is concentrated in loans (about 50%), while the share of consumer loans in commercial banks and finance companies active operations rarely exceeds 15%. The most common type of loans in credit unions are loans to purchase new and used cars (40%), followed by first mortgages and second mortgages (35%), about 10% are unsecured personal loans to member of unions and about 15% - are loans on credit cards and other loans.


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Shareholders in corporate organizations are basic credit unions, besides the same union can be a shareholder of several corporate organizations. The number of shareholders of a credit union is limited and formalized by a list. Limit of the number is defined by the assembly and such assembly establishes the charter. Like the credit cooperatives, credit unions form associations of a higher level, which are called corporate credit unions. Initially, the target groups of credit unions were farmers (Raiffeisen), and now they include both individuals (credit unions), and organizations. Credit unions encourage savings of citizens, setting compensation payments (interest) on savings and provide from these savings loans to their members. In 1908. the spread of credit unions has reached the United States. In 1935 President Roosevelt signed the state Charter on credit unions, which became a law.