Membership in the credit union is voluntary and is open to all citizens bound by with joint work or residence, who wished to create a credit union to use its services and are willing to take on relevant commitments and responsibilities. Credit unions attract people in the first place by the opportunity to get cash loan (credit) - quickly and relatively inexpensively. Credit unions encourage savings of citizens, setting compensation payments (interest) on savings and provide from these savings loans to their members. Specialization of credit unions to provide financial services to its shareholders requires a particularly strict regulation of membership and acceptable activities. First central bank of credit unions appeared in 1876. Credit unions began to appear rapidly in many European countries. To reduce the risk of default on loans members of the credit union shall the joint guarantee. In the credit union compensation for use of the loan (interest) is a source of compensation for savings.
Credit Union Location in College Place, Washington
College Place, Washington 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. Specialization of credit unions to provide financial services to its shareholders requires a particularly strict regulation of membership and acceptable activities.
| Agent | Contacts |
|---|---|
| Blue Mountain Credit Union, College Place |
520 S College Ave College Place, WA 99324
Phone: (509) 526-4562 Routing number: 68280 |
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). Typically new members of the credit union become citizens having suretyship or recommendations from their friends - members of the credit union. The main advantage of credit unions consists in transparency, controllability, governance for shareholders. To increase the number of credit unions in 1979 was adopted the corresponding law that serves as the legal basis of their activity. A credit union on its own initiative order is created by citizens (individuals) to solve their financial problems that they could not solve in other financial institutions.
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