Like the credit cooperatives, credit unions form associations of a higher level, which are called corporate credit unions. Credit unions encourage savings of citizens, setting compensation payments (interest) on savings and provide from these savings loans to their members. When organizing the credit union it is important that people know each other and know the extent to which each of them is trustworthy. 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. In the credit union compensation for use of the loan (interest) is a source of compensation for savings. The main activities of credit unions, aimed at the organization of mutual aid and social support of citizens is not intended to profit. Credit unions appeared in England in the 19th century. In 1844 a group of workers from Rochdale established the first cooperative.
Credit Union Location in Metropolis, Illinois
Metropolis, Illinois have 1 agent Credit Union location in your country. All country.
Credit unions encourage savings of citizens, setting compensation payments (interest) on savings and provide from these savings loans to their members. 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.
| Agent | Contacts |
|---|---|
| Electric Energy Inc Employees Credit Union, Metropolis |
1424 W. 10th Street Metropolis, IL 62960
Phone: (618) 524-4569 Routing number: 65368 |
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. Consumer loan and reliable savings - these are the main goals, which mean "natural persons" having decided to unite in credit consumer cooperative. The right to use the services of the credit union have only its members. Unlike banks credit unions limit their activities to a closed circle of people.
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