Like the credit cooperatives, credit unions form associations of a higher level, which are called corporate credit unions. First central bank of credit unions appeared in 1876. Credit unions began to appear rapidly in many European countries. Share contributions are transferred to the credit union on the basis of membership for the whole stay of a shareholder as member of the credit union and are the basis of membership. Credit union as a consumer cooperative operates on the principles of equality of all its members. Today, the World Council of Credit Unions is represented as members four regional confederations and twelve national associations. Corporate alliances are intermediaries between credit unions and financial markets.