Fund of Mutual Financial Aid of the credit union can be extended by sponsorship contributions from businesses, organizations, including on a returnable basis. Historically, credit unions were preceded by widespread development of credit cooperation in many countries of Europe and America. In recent decades, many credit unions began to resort to such form of service as 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. Shareholders in corporate organizations are basic credit unions, besides the same union can be a shareholder of several corporate organizations. Credit unions base their activities on savings of shareholders, their shares and savings contributions, which make up the fund of mutual financial assistance - a source of cash loans to shareholders. Corporate alliances are intermediaries between credit unions and financial markets.
Name | Contacts | Info |
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Partners Financial Federal Credit Union |
1200 New York Ave Glen Allen, VA 23060 | Phone: (804) 649-2657 Routing number: 12456 Charter number: 251082424 |