Money transfer agent locations

Today, the World Council of Credit Unions is represented as members four regional confederations and twelve national associations. 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. Initially, the target groups of credit unions were farmers (Raiffeisen), and now they include both individuals (credit unions), and organizations. The relationship between credit unions and shareholders arise from the membership and are not customer relationship. Corporate alliances are intermediaries between credit unions and financial markets. Standards by which credit unions build their work do not coincide with the standards and regulations of consumer cooperation of the usual type.


Credit Union Location in Virginia

Initially, the target groups of credit unions were farmers (Raiffeisen), and now they include both individuals (credit unions), and organizations. The relationship between credit unions and shareholders arise from the membership and are not customer relationship. 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.


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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. The main activities of credit unions, aimed at the organization of mutual aid and social support of citizens is not intended to profit. Credit Union - a non-profit financial institution specialized in mutual financial assistance by providing savings and credit services to their members. Today in the UK there are about 700 credit unions with assets exceeding 200 million pounds. 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. 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).