1, rural credit cooperatives are cooperative financial institutions of local village banks, and they are independent financial institutions, neither belonging to Agricultural Bank nor Industrial and Commercial Bank of China.
2. The main function of rural credit cooperatives is to raise idle funds in rural areas, provide financial services for agriculture, farmers and rural economic development, handle deposits and loans for farmers, and also handle related financial services for other enterprises.
Rural credit cooperatives refer to rural cooperative financial institutions established with the approval of the People's Bank of China, which are composed of members' shares, implement democratic management and mainly provide financial services for members.
4. Rural credit cooperatives are independent enterprise legal persons, which are responsible for the debts of rural credit cooperatives with all their assets and enjoy civil rights according to law. Its property, legitimate rights and interests and business activities carried out according to law are protected by state laws. The concept of rural credit cooperatives is a banking financial institution. The so-called banking financial institutions are also called deposit institutions and deposit currency banks. Their common feature is that deposits are the main liabilities, loans are the main assets, and transfer settlement is the main intermediary business, which directly participates in the creation process of deposit currency.
5. Rural credit cooperatives are also credit cooperative institutions. The so-called credit cooperative institutions are cooperative financial institutions whose main purpose is mutual assistance, referred to as "credit cooperatives", which carry out deposit and loan business among members for the purpose of mutual assistance and self-help. The establishment of credit cooperatives is directly related to the development of natural economy and small commodity economy. Due to the seasonal, decentralized and small-scale characteristics of agricultural producers and small commodity producers, it is difficult for small producers and farmers to get the support of bank loans, but objectively, the development of production and circulation must solve the difficulty of insufficient funds, so this kind of mutual aid self-help credit organization established by means of capital contribution and deposit has emerged.