takes place on a democratic basis - at a general meeting of the union, one member has
one vote that allows each member of the union to influence its activities;
2) non-profit activities - is a non-profit institution, therefore, it works in order to
meet the financial needs of members of the union, and not for profit. The services that
the association provides to its members can generate revenue that the union uses for
statutory activities (in particular, for renting premises, salaries of employees,
purchasing office equipment, paper, etc.), that is, the cost of services is maximally
consistent with the cost price;
3) the maximum approximation of the credit union to the consumers of services
and an individual approach to their needs - agrees favorable schedules of payment of
the amount of the loan ("body of credit") and interest, chooses the term deposit deposit,
advises on how to correctly plan the family budget, make a business plan.
4) product clarity - the financial products offered by credit unions are
characterized by simplicity of conditions and quality, which significantly reduces the
likelihood that the client will be confused in difficult economic terms or will receive a
more expensive service;
5) active microcrediting - working with borrowers who need small amounts, that
is micro-loans, and in villages - these are almost the only sources of financing;
6) transparency - credit unions are open financial institutions, members have the
right to receive information on the activities of the credit union, in particular, to receive
copies and / or extracts of decisions and minutes of meetings of the bodies of the union;
7) convenience and speed - credit unions - these are relatively small financial
institutions, which allows them not to issue an unnecessary amount of documents;
8) affordable price - no hidden interest, commission, additional costs;
9) Distribution of risks - when making money, each member risks the funds.
However, for today, society is not well-informed about the directions and
consequences of the development of the activities of credit unions, their distribution is
mainly of a regional nature.
The question of ensuring the financial stability of credit unions, the ability to
fulfill their own obligations is acutely raised [2, p. 70].
It should be noted that in practice there are significant deficiencies both in the
organization and in the level of those services provided to members of credit unions.
In particular, lending conditions can not always be better for members than offers from
lending to banks, a significant level of overdue loans to borrowers, indicating a weak
level of debt oversight. The deterrent mechanism for avoiding the ideas of financial
cooperation of members of a credit union and building on its basis illegal schemes
should be strict control over the activities of the supervisory board of credit unions, the
prevention of individual management of the union, the issuance of financially
unsupported loans, the recognition of loans in hopes without an effective return
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