Credit unions attract people in the first place by the opportunity to get cash loan (credit) - quickly and relatively inexpensively. Unlike banks credit unions limit their activities to a closed circle of people. Credit unions historically formed as a special form of social support, initially taken upon themselves the social mission of protecting the interests of citizens in the field of financial services. The relationship of shareholders with credit union are not client-based, they are co-operative, based on different principles and standards, in particular, on the principles of the law of obligations. All the members of the credit union, regardless of gender, ethnicity, religious and political beliefs, as well as the size of the monetary share have equal rights. When organizing the credit union it is important that people know each other and know the extent to which each of them is trustworthy. In some cases, the initiators of credit unions can be trade unions, associations such as social support centers and others. Membership in the credit union is voluntary and is open to all citizens bound by with joint work or residence, who wished to create a credit union to use its services and are willing to take on relevant commitments and responsibilities.
Credit unions historically formed as a special form of social support, initially taken upon themselves the social mission of protecting the interests of citizens in the field of financial services. The relationship of shareholders with credit union are not client-based, they are co-operative, based on different principles and standards, in particular, on the principles of the law of obligations. Unlike banks credit unions limit their activities to a closed circle of people.