Credit Union Concept

Credit Union Concept

This concept is used in advanced countries, different bank or houses in different countries of the world create a union, which is typically known as credit union.

1.    Simple & Easy

Credit union concept is simple and easy way of receiving payment without risk. This method does not involve complex documentation, and therefore preferred in small volume of trade.

2.    Advance Countries

Credit union facility is only available in advance countries like UK, USA and European countries. Exporter from many developing countries does not have access to this facility (no credit union exists).

3.    Exporter Get Immediate Payment

Exporter gets immediate payment from the member of credit union in his own country. This facility can only be availed, if such credit union exits in the country.

4.    Credit union Member receives

Credit union member receives payment from the member of credit union in the importer country. Credit union member in importer country transfer payment to credit union member in exporter country.

5.    Importer Credit Union Member

Importer credit union member shall receive payment from the importer on agreed terms. Thus a financing is provided to the importer in his own country.