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. 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. " Today in the UK there are about 700 credit unions with assets exceeding 200 million pounds. Some credit unions are closed, serving only their members. However, the more and more popularitywin cooperatives of open type. First Credit Union was savings unprofitable institution, or rather credit cooperative, providing services to its members. At the organization of the credit union it is important that people know each other and know the extent to which each of them is trustworthy. To reduce the risk of default on loans members of the credit union shall the joint guarantee. To increase the number of credit unions in 1979 was adopted the corresponding law that serves as the legal basis of their activity.