The first credit union in the United States was founded in 1909. by the group of Franco-American Catholics in Manchester, New Hampshire, and was called "Cooperative Credit Association of St. Mary. " First central bank of credit unions appeared in 1876. Credit unions began to appear rapidly in many European countries. Membership in the credit union forms responsible citizens and conscientious attitude to their obligations as a norm of behavior, identify the value of a decent man's reputation in the business turnover. Taking a decision to join a credit union, citizens create an organization through which they participate in the shared savings by mutual crediting and joint (collective) use of personal savings. 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. The supreme body of the World Council of Credit Unions is the Assembly, which elects the president and the board of directors of WOCCU. Standards by which credit unions build their work do not coincide with the standards and regulations of consumer cooperation of the usual type. The right to use the services of the credit union have only its members. Credit unions encourage the proper use of shareholders savings, developing social programs (education, health, recreation, housing, etc.).