Like any financial institution, credit unions have the financial resources. Credit unions attract people in the first place by the opportunity to get cash loan (credit) - quickly and relatively inexpensively. Like the credit cooperatives, credit unions form associations of a higher level, which are called corporate credit unions. 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. 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. To increase the number of credit unions in 1979 was adopted the corresponding law that serves as the legal basis of their activity. The specifics of credit unions and, in some sense, their uniqueness lies in the fact that they work not for profit and do not appropriate profit.
Credit Union Location in South Boston, Virginia
South Boston, Virginia have 1 agent Credit Union location in your country. All country.
Credit unions attract people in the first place by the opportunity to get cash loan (credit) - quickly and relatively inexpensively. 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.
| Agent | Contacts |
|---|---|
| Halifax County Community Federal Credit Union, South Boston |
1176 Huell Mathews Hwy South Boston, VA 24592
Phone: (434) 575-7916 Routing number: 23760 |
Like any financial institution, credit unions have the financial resources. Among the U.S. credit unions, there are three groups that differ in terms of assets, shareholders, and business services. In the credit union compensation for use of the loan (interest) is a source of compensation for savings. 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. Historically, credit unions have grown from the experience of credit cooperatives, but they took the experience of organizations of mutual aid of citizens by moving methods of social self-protection from labor and toward consumption.
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