Historically, credit unions were preceded by widespread development of credit cooperation in many countries of Europe and America. 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. Most modern credit unions represent specialized consumer cooperatives of citizens associated by the principle of social community: place of work, place of residence, profession, or any other shared interest. Credit unions encourage savings of citizens, setting compensation payments (interest) on savings and provide from these savings loans to their members. Income derived from the provision of services to its members, does not become the profit of credit union and is distributed among its members in proportion to their savings. The main activities of credit unions, aimed at the organization of mutual aid and social support of citizens is not intended to profit. Credit unions appeared in England in the 19th century. In 1844 a group of workers from Rochdale established the first cooperative. Consumer loan and reliable savings - these are the main goals, which mean "natural persons" having decided to unite in credit consumer cooperative.