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. 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. The value of credit unions is not limited to the role of the economic agent - they are an important element of the social structure and a factor of social stability and progress. Important specifics of creating a credit union - an initiative order of organization: people do not receive any instructions, orders or regulations, the unification into a credit union occurs by their will and decision. Standards by which credit unions build their work do not coincide with the standards and regulations of consumer cooperation of the usual type. Today, the World Council of Credit Unions is represented as members four regional confederations and twelve national associations.
Credit Union Location in Fishersville, Virginia
Fishersville, Virginia have 1 agent Credit Union location in your country. All country.
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. Important specifics of creating a credit union - an initiative order of organization: people do not receive any instructions, orders or regulations, the unification into a credit union occurs by their will and decision.
| Agent | Contacts |
|---|---|
| Augusta Health Care Credit Union, Fishersville |
78 Medical Center Drive Fishersville, VA 22939
Phone: (540) 932-4590 Routing number: 66933 Charter number: 251483324 |
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. When organizing the credit union it is important that people know each other and know the extent to which each of them is trustworthy. International cooperation has been particularly felt since the days when Alphonse Desjardins began the activity on development of credit union movement in North America. Credit unions are competitors of savings institutions, adding interest on deposits of members. This applies to the shares, as well as to additional funds transferred to the account in the credit union. Consumer loan and reliable savings - these are the main goals, which mean "natural persons" having decided to unite in credit consumer cooperative. Credit unions, like today's credit unions, emerged in the 19th century in Germany as a result of crop failure and famine. Credit cooperatives and credit unions exist in many different forms. The main differences relate to the nature of the membership and the opening of a credit institution. Credit unions encourage the proper use of shareholders savings, developing social programs (education, health, recreation, housing, etc.). 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.
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