Fund of Mutual Financial Aid of the credit union can be extended by sponsorship contributions from businesses, organizations, including on a returnable basis. 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. The main advantage of credit unions consists in transparency, controllability, governance for shareholders. Standards by which credit unions build their work do not coincide with the standards and regulations of consumer cooperation of the usual type. 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.
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The main advantage of credit unions consists in transparency, controllability, governance for shareholders. Standards by which credit unions build their work do not coincide with the standards and regulations of consumer cooperation of the usual type. 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.
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Specialization of credit unions to provide financial services to its shareholders requires a particularly strict regulation of membership and acceptable activities. 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. 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. 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. Unlike banks credit unions limit their activities to a closed circle of people.