The number of shareholders of a credit union is limited and formalized by a list. Limit of the number is defined by the assembly and such assembly establishes the charter. Typically new members of the credit union become citizens having suretyship or recommendations from their friends - members of the credit union. Over 30% of the assets of credit unions are investments in government securities, certificates of deposit of banks and savings loan associations, as well as in the parent credit unions, and other risk-free investments. The supreme body of the World Council of Credit Unions is the Assembly, which elects the president and the board of directors of WOCCU. Unlike banks credit unions limit their activities to a closed circle of people.