The number of shareholders of a credit union is limited and formalized by a list. Limit of the number is defined by the assembly and such assembly establishes the charter. 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 unions encourage the proper use of shareholders savings, developing social programs (education, health, recreation, housing, etc.). Unlike banks credit unions limit their activities to a closed circle of people. Credit union as a consumer cooperative operates on the principles of equality of all its members. A potential new member of a credit union must submit a recommendation of shareholders in which the referee becomes a warrant of a future member of the credit union.