Extended data:
Rural credit cooperatives (rural credit cooperatives, rural credit cooperatives and 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, and belong to the nature of collective ownership. Farmers can apply for some low-interest loans from this financial institution when they encounter financial difficulties in agricultural land management.
Introduction:
Rural credit cooperatives are banking financial institutions. The so-called banking financial institutions are also called deposit institutions and deposit currency banks. They are characterized by taking deposits as their main liabilities, granting loans as their main assets, and handling transfer and settlement as their main intermediary business, and directly participating in the creation process of deposit currency.
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.
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.
Status:
The provincial government is responsible for the establishment of provincial cooperatives, which are managed by the provincial credit cooperatives in a unified way, and accept the supervision of the People's Bank of China and the China Banking Regulatory Commission. There is no unified national management organization. Credit cooperatives in coastal areas have developed rapidly and achieved good benefits. Many have been restructured into credit banks, and a few have been listed. The restructuring of the western region has just been completed for a few years, and the business has just entered the right track, reversing the loss situation. Thanks to the social stability and the restructuring in 2000, the historical burden was lost, so the development of credit cooperatives (banks) was unbalanced. However, it has developed rapidly, and a large number of high-quality, college-educated and professional counterparts are recruited every year to enrich the credit cooperatives and lay the foundation for their future development.
Business:
General commercial banks have basic business, basic business. Deposits, withdrawals, transfers, remittances, loans and so on are readily available, and thanks to the provincial management of credit cooperatives established by the provincial government, it has some "official" colors. So we accept many payment services, such as subsidies, subsistence allowances, agricultural insurance and so on. Business is good! A town-level credit cooperative with an annual profit of several million! (Average in Central China), some credit banks have started to build or open online banking systems of credit cooperatives, usually at the provincial level.