National Credit Union Administration (NCUA) - an independent federal agency, based in Washington (State of Columbia), established by the U.S. Congress to oversee the federal credit union system. To increase the number of credit unions in 1979 was adopted the corresponding law that serves as the legal basis of their activity. The supreme body of the World Council of Credit Unions is the Assembly, which elects the president and the board of directors of WOCCU. Typically, donor contributions to the credit unions are targeted and used in the same statutory requirements and restrictions as the Mutual Financial Aid fund as a whole. 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. As of the January 1, 2012 the national associations and confederations unite more than 196 million members participating in the 51,013 credit unions in 100 countries. Credit unions appeared in England in the 19th century. In 1844 a group of workers from Rochdale established the first cooperative. Historically, credit unions were preceded by widespread development of credit cooperation in many countries of Europe and America. The economic basis of credit unions - finances of a household. The main objective of the credit union - to ensure financial stability of a household, to ensure the priority of their shareholders' financial interests.
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To increase the number of credit unions in 1979 was adopted the corresponding law that serves as the legal basis of their activity. Typically, donor contributions to the credit unions are targeted and used in the same statutory requirements and restrictions as the Mutual Financial Aid fund as a whole.
|Focus Credit Union, Menomonee Falls||
3180 N. 124th Street Suite A Wauwatosa, WI 53222
Phone: (262) 255-0833
Routing number: 66451
Principles of cooperative democracy and interaction were adequate to the purposes for which people joined credit unions. Credit union services are available only to its shareholders. 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. " Cooperation between credit unions, how they would not have been named, took place always, from the moment when the movement moved outside one credit union. 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 unions, like today's credit unions, emerged in the 19th century in Germany as a result of crop failure and famine.