The first credit union in the United States was founded in 1909. by the group of Franco-American Catholics in Manchester, New Hampshire, and was called "Cooperative Credit Association of St. Mary. " Today in the UK there are about 700 credit unions with assets exceeding 200 million pounds. Credit union services are available only to its shareholders. Members of credit unions place in credit unions usually free fund balances, ie those that remain after expenses devoted to education of children, the acquisition of new properties, additional pension benefits, etc. Credit Union - a non-profit financial institution specialized in mutual financial assistance by providing savings and credit services to their members.