Among the U.S. credit unions, there are three groups that differ in terms of assets, shareholders, and business services. Credit Union - a non-profit financial institution specialized in mutual financial assistance by providing savings and credit services to their members. The relationship between credit unions and shareholders arise from the membership and are not customer relationship. Credit unions also differ from the traditional consumer cooperatives. 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). In 1908. the spread of credit unions has reached the United States. In 1935 President Roosevelt signed the state Charter on credit unions, which became a law.
The relationship between credit unions and shareholders arise from the membership and are not customer relationship. Credit unions also differ from the traditional consumer cooperatives. Credit Union - a non-profit financial institution specialized in mutual financial assistance by providing savings and credit services to their members.