Principles of cooperative democracy and interaction were adequate to the purposes for which people joined credit unions. On the consumer credit market in the U.S. credit unions are on the third place after the commercial banks and finance companies and are ahead of savings institutions, not taking into account the loans on real estate. Credit unions attract people in the first place by the opportunity to get cash loan (credit) - quickly and relatively inexpensively. Credit union promotes the effective conservation of personal funds of its members, giving them the loans from the funds of the credit union, as well as the sharing of savings in education, housing, health care and other programs of social support and social development of its members. In the U.S., credit unions have a clear organizational structure. All credit unions belong to one or the other parent credit union (there are 35 of them in the U.S.). Today in the UK there are about 700 credit unions with assets exceeding 200 million pounds. Typically new members of the credit union become citizens having suretyship or recommendations from their friends - members of the credit union. First Credit Union was savings unprofitable institution, or rather credit cooperative, providing services to its members. Credit Union - one of the most attractive financial institutions for the public being a non-profit alternative to banks. Credit unions of the open type are still controlled by their members, but at the same time provide services to people who are not its members (external customers).
Credit unions attract people in the first place by the opportunity to get cash loan (credit) - quickly and relatively inexpensively. Credit union promotes the effective conservation of personal funds of its members, giving them the loans from the funds of the credit union, as well as the sharing of savings in education, housing, health care and other programs of social support and social development of its members. On the consumer credit market in the U.S. credit unions are on the third place after the commercial banks and finance companies and are ahead of savings institutions, not taking into account the loans on real estate.