To get a loan in the credit union a shareholder must be not only a formally adopted there, but necessary pay in cash contributions, the amount and order of payment of which approved by the General Assembly and fixed by the charter. The main advantage of credit unions consists in transparency, controllability, governance for shareholders. The relationship of shareholders with credit union are not client-based, they are co-operative, based on different principles and standards, in particular, on the principles of the law of obligations. The right to use the services of the credit union have only its members. Unlike banks, in order to use the services of a credit union, you have to become its member, having written an application and having paid thus shares and membership fee. Credit union as a consumer cooperative operates on the principles of equality of all its members. 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. Corporate alliances are intermediaries between credit unions and financial markets. 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.
Shoreline, Washington have 2 agent Credit Union location in your country. All country.
The main advantage of credit unions consists in transparency, controllability, governance for shareholders. The right to use the services of the credit union have only its members.
|Community 1st Credit Union, Shoreline||
955 Ross Loop Suite 100 Dupont, WA 98327
Phone: (253) 722-5212
Routing number: 60079
|Darigold Federal Credit Union, Shoreline||
520 Ne 165th Street Shoreline, WA 98155
Phone: (206) 367-8400
Routing number: 07968
In the U.S., credit unions have a clear organizational structure. All credit unions belong to one or the other parent credit union (there are 35 of them in the U.S.). Most modern credit unions represent specialized consumer cooperatives of citizens associated by the principle of social community: place of work, place of residence, profession, or any other shared interest. Typically new members of the credit union become citizens having suretyship or recommendations from their friends - members of the credit union. Is necessary that all shareholders of the credit union were members of a single community, would know each other well enough to enjoy mutual trust. Credit unions perform the function of social protection in a vital for people sphere of financial services. They care about improving the financial literacy of the population, are working on the formation of their members and their employees. 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. Income derived from the provision of services to its members, does not become the profit of credit union and is distributed among its members in proportion to their savings. 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.