Credit unions encourage savings of citizens, setting compensation payments (interest) on savings and provide from these savings loans to their members. Among the U.S. credit unions, there are three groups that differ in terms of assets, shareholders, and business services. The main advantage of credit unions consists in transparency, controllability, governance for shareholders. Credit unions encourage the proper use of shareholders savings, developing social programs (education, health, recreation, housing, etc.). Worldwide credit union movement is represented by regional confederations and national organizations within the World Council of Credit Unions.
Credit Union Location in Nitro, West Virginia
Nitro, West Virginia have 2 agent Credit Union location in your country. All country.
Among the U.S. credit unions, there are three groups that differ in terms of assets, shareholders, and business services. Credit unions encourage the proper use of shareholders savings, developing social programs (education, health, recreation, housing, etc.).
| Agent | Contacts |
|---|---|
| Monsanto Nitro Federal Credit Union, Nitro |
207 Main Avenue Nitro, WV 25143
Phone: (304) 755-7393 Routing number: 00247 Charter number: 251584281 |
| Peoples Federal Credit Union, Nitro |
419 First Avenue South Nitro, WV 25143
Phone: (304) 722-2274 Routing number: 16993 Charter number: 251983811 |
The first credit union in the United States was founded in 1909. by the group of Franco-American Catholics in Manchester, New Hampshire, and was called "Cooperative Credit Association of St. Mary. " Credit unions attract people in the first place by the opportunity to get cash loan (credit) - quickly and relatively inexpensively. The difference between credit unions and banks is clearly is apparent when comparing the structure of assets and liabilities of credit unions and banks. To reduce the risk of default on loans members of the credit union shall the joint guarantee. 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. Membership in the credit union forms responsible citizens and conscientious attitude to their obligations as a norm of behavior, identify the value of a decent man's reputation in the business turnover. In the credit union compensation for use of the loan (interest) is a source of compensation for savings. Taking a decision to join a credit union, citizens create an organization through which they participate in the shared savings by mutual crediting and joint (collective) use of personal savings. Worldwide credit union movement is represented by regional confederations and national organizations within the World Council of Credit Unions.
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