Credit union location in Georgia, Hazlehurst
Jeff Davis Credit Union
Adres: 54 Currie Street Hazlehurst, GA 31539
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.
Today, the World Council of Credit Unions is represented as members four regional confederations and twelve national associations.
The main activities of credit unions, aimed at the organization of mutual aid and social support of citizens is not intended to profit.
Initially, the target groups of credit unions were farmers (Raiffeisen), and now they include both individuals (credit unions), and organizations.
In the case of default the shareholder - individual will respond with its property and, in addition, is jointly and severally liable with the credit union's commitments.
Historically, credit unions were preceded by widespread development of credit cooperation in many countries of Europe and America.
To increase the number of credit unions in 1979 was adopted the corresponding law that serves as the legal basis of their activity.
Credit union services are available only to its shareholders.
Fund of Mutual Financial Aid of the credit union can be extended by sponsorship contributions from businesses, organizations, including on a returnable basis.
Contributions from of shareholders in credit unions in no way can be considered as borrowed funds, they come from the shareholders and for the shareholders and can not be used to provide services to third parties.