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. When organizing the credit union it is important that people know each other and know the extent to which each of them is trustworthy. 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. Cooperation between credit unions, how they would not have been named, took place always, from the moment when the movement moved outside one credit union. National Credit Union Insurance Fund was created by Congress in 1970 to insure deposits of credit union members in the amount of 100 thousand dollars. Over 30% of the assets of credit unions are investments in government securities, certificates of deposit of banks and savings loan associations, as well as in the parent credit unions, and other risk-free investments. As of the January 1, 2012 the national associations and confederations unite more than 196 million members participating in the 51,013 credit unions in 100 countries. 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. Worldwide credit union movement is represented by regional confederations and national organizations within the World Council of Credit Unions.
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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. Cooperation between credit unions, how they would not have been named, took place always, from the moment when the movement moved outside one credit union. When organizing the credit union it is important that people know each other and know the extent to which each of them is trustworthy.
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Credit unions encourage savings of citizens, setting compensation payments (interest) on savings and provide from these savings loans to their members. Typically new members of the credit union become citizens having suretyship or recommendations from their friends - members of the credit union. As of the January 1, 2012 the national associations and confederations unite more than 196 million members participating in the 51,013 credit unions in 100 countries. Credit unions base their activities on savings of shareholders, their shares and savings contributions, which make up the fund of mutual financial assistance - a source of cash loans to shareholders. Unlike banks credit unions limit their activities to a closed circle of people.