Georgia Chartered Credit Unions

DeCarta Finance provides information on Georgia chartered credit unions. 

Credit unions are non profit depository institutions which serve a particular interest group.  The credit union banking structure originally came from England and the model was further developed in Germany before coming to the United States.  The German concept brought a democratic governance where each member had a vote in the board of directors  regardless of the amount of funds on deposit.

In the 1920s, credit unions in the United started to become very popular since Americans needed inexpensive sources of credit.  The first national credit union law known as the Federal Credit Union Act was signed in 1934 by President Franklin Delano Roosevelt. As popularity in credit unions continued to increase, the National Credit Union Administration became a new federal agency and the National Credit Union Share Insurance Fund was created to protect deposits similar to the Federal Deposit Insurance Corporation for bank deposits.

For specific information on Georgia Credit Unions click here.

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