First Credit Union was savings unprofitable institution, or rather credit cooperative, providing services to its members. 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 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. In the UK, credit unions are a source of financing of people groups. This tool is not widely used. Standards by which credit unions build their work do not coincide with the standards and regulations of consumer cooperation of the usual type. Credit unions historically formed as a special form of social support, initially taken upon themselves the social mission of protecting the interests of citizens in the field of financial services. 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.
Credit Union Location in Ettrick, Virginia
Ettrick, Virginia have 1 agent Credit Union location in your country. All country.
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. In the UK, credit unions are a source of financing of people groups. This tool is not widely used.
| Agent | Contacts |
|---|---|
| Virginia State University Federal Credit Union, Ettrick |
3401 Boisseau Street Ettrick, VA 23803
Phone: (804) 526-6708 Routing number: 03029 Charter number: 251481915 |
Borrowing rate for the credit union is a source of income to cover the administrative costs. All excess funds are returned to members in the form of dividends on savings. 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 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. At the organization of the credit union it is important that people know each other and know the extent to which each of them is trustworthy. As of the January 1, 2012 the national associations and confederations unite more than 196 million members participating in the 51,013 credit unions in 100 countries. In some cases, the initiators of credit unions can be trade unions, associations such as social support centers and others. To increase the number of credit unions in 1979 was adopted the corresponding law that serves as the legal basis of their activity. Credit union as a consumer cooperative operates on the principles of equality of all its members.
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