To date, credit unions - virtually the only form of financial institution where people can quickly and without any problems get a relatively inexpensive cash loan. First central bank of credit unions appeared in 1876. Credit unions began to appear rapidly in many European countries. In the credit union compensation for use of the loan (interest) is a source of compensation for savings. The supreme body of the World Council of Credit Unions is the Assembly, which elects the president and the board of directors of WOCCU. Credit Union - a non-profit financial institution specialized in mutual financial assistance by providing savings and credit services to their members.