Borrowing rate for the credit union is a source of income to cover the administrative costs. All excess funds are returned to members in the form of dividends on savings. Principles of cooperative democracy and interaction were adequate to the purposes for which people joined credit unions. Typically new members of the credit union become citizens having suretyship or recommendations from their friends - members of the credit union. Is necessary that all shareholders of the credit union were members of a single community, would know each other well enough to enjoy mutual trust. First central bank of credit unions appeared in 1876. Credit unions began to appear rapidly in many European countries. Income derived from the provision of services to its members, does not become the profit of credit union and is distributed among its members in proportion to their savings. Credit Union - a non-profit financial institution specialized in mutual financial assistance by providing savings and credit services to their members. U.S. credit unions have another significant difference from the credit cooperatives of farmers: the first have major proportion of short-term loans, the second - long and mostly in real estate. The specifics of credit unions and, in some sense, their uniqueness lies in the fact that they work not for profit and do not appropriate profit.