Historically, credit unions were preceded by widespread development of credit cooperation in many countries of Europe and America. International cooperation has been particularly felt since the days when Alphonse Desjardins began the activity on development of credit union movement in North America. 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. A credit union on its own initiative order is created by citizens (individuals) to solve their financial problems that they could not solve in other financial institutions.