Bond of Association
Subject: Banking | Topics:

Bond of association in early USA credit unions were being generally employee-based, and concentrated from the manufacturing and transport industries, and between soldiers, teachers along with postal workers. The bond of association is the social connection among the members of credit history unions and co-operative banks. It substitute for collateral from the early stages of financial system development. Like solidarity financial, the common attachment has since played a significant role in assisting the development regarding micro-finance for the indigent.

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