Credit unions encourage savings of citizens, setting compensation payments (interest) on savings and provide from these savings loans to their members. Principles of cooperative democracy and interaction were adequate to the purposes for which people joined credit unions. Until the 70's there was a proliferation of the U.S. credit unions due to the increase of their number and the number of shareholders, although it must be acknowledged that there was also and a qualitative growth. In the credit union compensation for use of the loan (interest) is a source of compensation for savings. Credit unions appeared in England in the 19th century. In 1844 a group of workers from Rochdale established the first cooperative. Unlike banks credit unions limit their activities to a closed circle of people. 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.