National Credit Union Administration (NCUA) - an independent federal agency, based in Washington (State of Columbia), established by the U.S. Congress to oversee the federal credit union system. Typically new members of the credit union become citizens having suretyship or recommendations from their friends - members of the credit union. The main advantage of credit unions consists in transparency, controllability, governance for shareholders. Credit unions of the open type are still controlled by their members, but at the same time provide services to people who are not its members (external customers). In the credit union compensation for use of the loan (interest) is a source of compensation for savings. Unlike banks credit unions limit their activities to a closed circle of people. A credit union on its own initiative order is created by citizens (individuals) to solve their financial problems that they could not solve in other financial institutions.