Today in the UK there are about 700 credit unions with assets exceeding 200 million pounds. In recent decades, many credit unions began to resort to such form of service as Credit unions encourage savings of citizens, setting compensation payments (interest) on savings and provide from these savings loans to their members. 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. Worldwide credit union movement is represented by regional confederations and national organizations within the World Council of Credit Unions. Today, the World Council of Credit Unions is represented as members four regional confederations and twelve national associations.
Credit Union Location in La Crosse, Wisconsin
La Crosse, Wisconsin have 1 agent Credit Union location in your country. All country.
In recent decades, many credit unions began to resort to such form of service as 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.
| Agent | Contacts |
|---|---|
| Altra Federal Credit Union, La Crosse |
2715 Losey Blvd South La Crosse, WI 54601
Phone: (608) 787-4500 Routing number: 24077 |
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). Main share of credit unions assets is concentrated in loans (about 50%), while the share of consumer loans in commercial banks and finance companies active operations rarely exceeds 15%. The most common type of loans in credit unions are loans to purchase new and used cars (40%), followed by first mortgages and second mortgages (35%), about 10% are unsecured personal loans to member of unions and about 15% - are loans on credit cards and other loans. The number of shareholders of a credit union is limited and formalized by a list. Limit of the number is defined by the assembly and such assembly establishes the charter. Credit union services are available only to its shareholders. The main activities of credit unions, aimed at the organization of mutual aid and social support of citizens is not intended to profit. Initially, the target groups of credit unions were farmers (Raiffeisen), and now they include both individuals (credit unions), and organizations. 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. Important specifics of creating a credit union - an initiative order of organization: people do not receive any instructions, orders or regulations, the unification into a credit union occurs by their will and decision. Worldwide credit union movement is represented by regional confederations and national organizations within the World Council of Credit Unions.
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