Encyclopedia
Financial mutual aid
Financial mutual aid is an organized process carried out by a credit cooperative involving the pooling of share savings (shares) and attracting funds from members of the credit cooperative (shareholders), as well as other monetary resources, and placing these funds by providing loans to members of the credit cooperative (shareholders) in order to meet their financial needs in accordance with the charter of the credit cooperative and internal regulatory documents of the credit cooperative1.
Federal Law No. 190-FZ dated July 18, 2009 "On Credit Cooperation", as amended on July 18, 2009, Article 1, subpara. 18 // RSZ RF. 2009. No. 29. P. 3627. ↩