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). Credit unions also differ from the traditional consumer cooperatives. First central bank of credit unions appeared in 1876. Credit unions began to appear rapidly in many European countries. Credit unions are financial institutions, financial cooperatives of citizens, and in this capacity they are above all associations of people, not unification of capitals, which is typical, for example, for public companies.