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. 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 unions perform the function of social protection in a vital for people sphere of financial services. They care about improving the financial literacy of the population, are working on the formation of their members and their employees. In the credit union compensation for use of the loan (interest) is a source of compensation for savings. Credit unions appeared in England in the 19th century. In 1844 a group of workers from Rochdale established the first cooperative. Credit unions encourage the proper use of shareholders savings, developing social programs (education, health, recreation, housing, etc.).
Credit Union Location in Lafayette, Indiana
Lafayette, Indiana have 2 agent Credit Union location in your country. All country.
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. In the credit union compensation for use of the loan (interest) is a source of compensation for savings.
| Agent | Contacts |
|---|---|
| Industrial Federal Credit Union, Lafayette |
1115 Sagamore Pkwy S Lafayette, IN 47905
Phone: (765) 771-8000 Routing number: 24026 Charter number: 274974878 |
| Tippecanoe Federal Credit Union, Lafayette |
3450 St Road 26 E Lafayette, IN 47905
Phone: (765) 448-1158 Routing number: 08654 |
To get a loan in the credit union a shareholder must be not only a formally adopted there, but necessary pay in cash contributions, the amount and order of payment of which approved by the General Assembly and fixed by the charter. Like any financial institution, credit unions have the financial resources. Credit unions encourage savings of citizens, setting compensation payments (interest) on savings and provide from these savings loans to their members. 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. In the credit union compensation for use of the loan (interest) is a source of compensation for savings. Credit unions appeared in England in the 19th century. In 1844 a group of workers from Rochdale established the first cooperative. Initially, the target groups of credit unions were farmers (Raiffeisen), and now they include both individuals (credit unions), and organizations. Standards by which credit unions build their work do not coincide with the standards and regulations of consumer cooperation of the usual type.
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