Representative organization, leading the coordination work in the field of development of both global and national credit union movement is the World Council of Credit Unions (WOCCU) established in 1971 (headquartered in Madison, USA). 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. Credit unions encourage the proper use of shareholders savings, developing social programs (education, health, recreation, housing, etc.). 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. Today, the World Council of Credit Unions is represented as members four regional confederations and twelve national associations.