A member of a credit union is not just being a customer of his bank mutual, it also means that, especially as a shareholder in Mutual credit office, the member / shareholder has the duty and the advantage of to get involved and ensure the proper administrative and financial mutual pain of financial loss in solidarity with other members.

The credit union now work in the insurance sector in construction of housing and health insurance, in granting credit for the purchase of goods and household appliances. Moreover, the credit union has invested in the field of IT and mobile telephony to further automate the operations of ATMs by clients both at home and abroad.


General information on credit unions

The credit union was originally conceived as an instrument of social solidarity in agriculture during periods of economic crisis of the nineteenth century, to help farmers financially both in need and to thank you all kinds of loan sharks . But to obtain such services, it is not enough to adhere to each other. It is also necessary to free their time to perform monitoring of the internal structure to meet the needs of all its members in the geographical limits of its powers. Be aware that the credit union is now a flourishing industry as it offers its members various shareholder services previously provided by traditional commercial banks to which it delivers a fierce competition to maximize its market share by dint of innovation and facilitation for clients.

How does the credit union?

The basic structure is composed of members who, in fact, are the shareholders composing the General Assembly and the Supervisory Board. The various funds are grouped geographically into local federations that formulate policy guidelines and ensure the proper federal fund management members. Finally, the federations are grouped into a confederal structure that is the privileged interlocutor of the government in promoting and defending the interests of the entire structure.

What are the benefits offered by credit unions?

First, there is provided a nominal credit card payments of pocket expenses and automated withdrawals. Another form of permanent loan without any formality known as “Plan 4” is available to make acquisitions in computer equipment, household and furniture. The formula Passport Credit can deal with major spending commitments such as buying a vehicle, the rehabilitation of a home. But the value of transactions remains within a budget agreed in advance with the mutual fund. One can also mention the Special Accession DOM Ready to finance the acquisition of land or real estate. In addition, a credit is available to relay anticipate a very favorable buying in anticipation of the sale of an asset. Other possibilities: an averaging formula reimbursement by one or two deferrals per year is possible. To buy a car under 21,500 euros, the payment period can range from one to five years.

What is the credit union does offer young people?

The credit union offers a progressive savings booklet with the young before moving on to a blue booklet deposit and current account management. Finally, ATM withdrawals are feasible with the youth card Jinko. Different forms of loans are also available including those for financing higher education, the purchase of computers, for obtaining the license and the cost of first installation of the young couple.