First central bank of credit unions appeared in 1876. Credit unions began to appear rapidly in many European countries. To increase the number of credit unions in 1979 was adopted the corresponding law that serves as the legal basis of their activity. At the organization of the credit union it is important that people know each other and know the extent to which each of them is trustworthy. A potential new member of a credit union must submit a recommendation of shareholders in which the referee becomes a warrant of a future member of the credit union. The difference between credit unions and banks is clearly is apparent when comparing the structure of assets and liabilities of credit unions and banks. Share contributions are transferred to the credit union on the basis of membership for the whole stay of a shareholder as member of the credit union and are the basis of membership. To get a loan in the credit union a shareholder must be not only a formally adopted there, but necessary pay in cash contributions, the amount and order of payment of which approved by the General Assembly and fixed by the charter. In the case of default the shareholder - individual will respond with its property and, in addition, is jointly and severally liable with the credit union's commitments.