Question

2 3 4 5 6 Since credit unions do not have shareholders, do you know whether that changes the way they manage the business, such as in assessing the risk of a client, or to whom they are accountable for profits, etc? 1 would imagine that a financial institution that is accountable to shareholders may have very specific reporting requirements or quarterly financial goals?

Answer 1

slation since the credit unions do not have Shareholder's but still financial Institution have many specific reporting requirements of quarterly financial goals, which were as follows : depository unions : These are the unions get funds from public Reposit . Their liabilities are public deposits and Loans are their assets. So they need to manage the loans and deposits with Interest payable or receivable on it. cii financial institution : These are financial unions who take finance from other finance, unions at lower rate and provide it to the public at higher rates to earn rate profit these unions also need to keep records of their creditors and debtors! report daily or weekly credit union on soffered Contribution : Here Both employee and employes need to Contribute so amount and all the reports regarding that is maintained by such unions Interest accured or payable or receivable - These unions provide finance so it becomes mandatory, to keep financial reporting regarding their mitt accused or payable of Recierable on a specific day