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. Like any financial institution, credit unions have the financial resources. 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. " Borrowing rate for the credit union is a source of income to cover the administrative costs. All excess funds are returned to members in the form of dividends on savings. All the members of the credit union, regardless of gender, ethnicity, religious and political beliefs, as well as the size of the monetary share have equal rights.
Credit Union Location in Moab, Utah
Moab, Utah have 1 agent Credit Union location in your country. All country.
Like any financial institution, credit unions have the financial resources. Borrowing rate for the credit union is a source of income to cover the administrative costs. All excess funds are returned to members in the form of dividends on savings.
| Agent | Contacts |
|---|---|
| Grand County Credit Union, Moab |
725 North Main Moab, UT 84532
Phone: (435) 259-6124 Routing number: 67075 |
Some credit unions are closed, serving only their members. However, the more and more popularitywin cooperatives of open type. Like the credit cooperatives, credit unions form associations of a higher level, which are called corporate credit unions. 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. Members of credit unions place in credit unions usually free fund balances, ie those that remain after expenses devoted to education of children, the acquisition of new properties, additional pension benefits, etc. 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. Standards by which credit unions build their work do not coincide with the standards and regulations of consumer cooperation of the usual type. 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.
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