A credit union is a self-help financial co-operative where people, who are united by a Common Bond, agree to save money together and, to make loans to one another at low rates of interest. The common bond is the most important characteristic of a credit union because credit unions are founded on trust and unless members already have something in common, they have no basis for trusting one another. The purpose of the common bond is to protect members' interests and members' funds. It also fosters a spirit commitment and co-operation.
| Identifer | oai:union.ndltd.org:netd.ac.za/oai:union.ndltd.org:rhodes/vital:30526 |
| Date | January 1900 |
| Creators | Cape Credit Union League |
| Publisher | Cape Credit Union League |
| Source Sets | South African National ETD Portal |
| Language | English |
| Detected Language | English |
| Type | text, book |
| Format | 22 pages, pdf |
| Rights | Cape Credit Union League, No part of this publication may be reproduced or transmitted in any form or by any means without prior permission from the publisher |
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