Amount of credit from 3000 to 50000 Period 12 to 36 months. Monthly payment 995 What is a Credit Union Main
goal of the credit union can be defined as the financial and social
protection of its members by bringing their personal savings to mutual
lending and other financial services to them. Credit unions are mutual financial organizations, special people and have a non-profit co-operative basis. The
Law of Ukraine "On credit unions" says Credit Union - is a non-profit
organization founded by individuals on a cooperative basis to meet the
needs of its members in a mutual credit and financial services by
combining cash deposits of credit union members. Scheme of Credit Unions Scheme
of credit unions just some members of the organization to protect their
money from inflation, put them on deposit accounts, make for shares,
others - use these tools to obtain loans. Activities of credit unions is not about making a profit, but for improving the well-being of its members. It can be said that some members of the organization to lend others. Credit unions operate on the basis of voluntary membership and joining the organization out of it. Credit
union members often share common interests, place of work, place of
residence, etc., which is prescribed in the Constitution. The credit union is created and acts primarily to allow its members to obtain credit on reasonable terms. Interest
earned on loans Union, constitute his income, which is then directed to
the formation of funds, interest on the contributions of the members
and the empowerment of credit. The
supreme governing body of the credit union is the General Assembly
(meets once a year) in which the number of participants form Supervisory Board (representing the interests of the credit union between general meetings); Audit Commission (which controls the financial and economic activities of the credit union); the board of the credit union (the executive body, which supervises its current activities); Credit Committee - the body responsible for organizing the activities of the credit union. The
credit union, you set types of loans and deposits, and the conditions
for granting loans return dates, methods of providing credit
obligations, requirements for loan repayment. So that it is able to minimize their financial risks. A bit of history The concept of credit cooperatives came into use from the middle of XIX century. It is important to note that the Russian Empire before the Revolution had one of the highest number and credit cooperatives. In Russia and Ukraine, the idea of credit cooperation came from Germany. Credit
cooperative movement was so strong that in 1916 in the Russian Empire
were more than 14,000 credit unions, of which more than three thousand
of them are in the Ukraine. With
the 30's credit cooperatives ceased to exist as such, but mutual aid
people to each other through the establishment and operation of mutual
aid funds in enterprises. The
main differences from the credit union is mutual aid funds that benefit
society is deprived of legal personality and the right to provide loans
for a fee. To date, more than 800 in Ukraine credit unions. Credit unions in the world 40,424 credit unions in 84 countries 123 million members 656 billion dollars of savings 482 billion dollars of loans
Credit Union
