National Credit Union Insurance Fund was created by Congress in 1970 to insure deposits of credit union members in the amount of 100 thousand dollars. Over 30% of the assets of credit unions are investments in government securities, certificates of deposit of banks and savings loan associations, as well as in the parent credit unions, and other risk-free investments. 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. In the credit union compensation for use of the loan (interest) is a source of compensation for savings. Credit unions historically formed as a special form of social support, initially taken upon themselves the social mission of protecting the interests of citizens in the field of financial services.
Credit Union Location in Wisconsin Rapid, Wisconsin
Wisconsin Rapid, Wisconsin have 3 agent Credit Union location in your country. All country.
Over 30% of the assets of credit unions are investments in government securities, certificates of deposit of banks and savings loan associations, as well as in the parent credit unions, and other risk-free investments. In the credit union compensation for use of the loan (interest) is a source of compensation for savings.
| Agent | Contacts |
|---|---|
| Bulls Eye Credit Union, Wisconsin Rapid |
1930 8th Street South Wisconsin Rapid, WI 54494
Phone: (715) 423-2650 Routing number: 66861 |
| Members Advantage Credit Union, Wisconsin Rapid |
1610 Lincoln St Wisconsin Rapids, WI 544941208
Phone: (715) 421-1610 Routing number: 66633 |
| Wood County Employees Credit Union, Wisconsin Rapid |
400 Market Street Wisconsin Rapids, WI 54495
Phone: (715) 421-2313 Routing number: 66547 |
Fund of Mutual Financial Aid of the credit union can be extended by sponsorship contributions from businesses, organizations, including on a returnable basis. 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. Some credit unions are closed, serving only their members. However, the more and more popularitywin cooperatives of open type. 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. Since the early 80's started the process of consolidation of credit unions, leading to a decrease in their number with a simultaneous increase in the total number of members. Over 30% of the assets of credit unions are investments in government securities, certificates of deposit of banks and savings loan associations, as well as in the parent credit unions, and other risk-free investments. In the case of default the shareholder - individual will respond with its property and, in addition, is jointly and severally liable with the credit union's commitments. The value of credit unions is not limited to the role of the economic agent - they are an important element of the social structure and a factor of social stability and progress. The supreme body of the World Council of Credit Unions is the Assembly, which elects the president and the board of directors of WOCCU.
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