Synopsis
Understanding rural credit: how local unions can provide fair, affordable loans
The book explains why traditional banks and merchants often fail to meet the needs of farmers and tenants for short‑term credit. It introduces credit associations, or credit unions, as local co‑ops that focus on saving, thrift, and lending at reasonable rates to members who share a common community interest. The material covers how these associations are organized, governed, and run by members rather than by capital alone.
You’ll learn what a typical credit union looks like in practice, including member roles, the board, and the loans process. The text also discusses the role of banks and progressive bankers in supporting organized groups to widen access to credit and strengthen local prosperity. It presents a concrete model for state legislation that could shape how associations operate, with emphasis on membership, liability, governance, and the balance between loans and savings.- How a credit association is formed and who can join
- How members elect leaders, manage funds, and approve loans
- How these unions pursue thrift while offering productive lending
- How state laws might support or regulate cooperative credit
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The Credit Association as an Agency for Rural Short-Time Credit (Classic Reprint)
Seller: Buchpark, Trebbin, Germany
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