In the UK, credit unions are a source of financing of people groups. This tool is not widely used. Fund of Mutual Financial Aid of the credit union can be extended by sponsorship contributions from businesses, organizations, including on a returnable basis. Income received by the credit union shall be distributed among the shareholders or spent for the depreciation of services, that is, are the most effective means of meeting the needs of shareholders. 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). Some credit unions are closed, serving only their members. However, the more and more popularitywin cooperatives of open type. The specifics of credit unions and, in some sense, their uniqueness lies in the fact that they work not for profit and do not appropriate profit.
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Income received by the credit union shall be distributed among the shareholders or spent for the depreciation of services, that is, are the most effective means of meeting the needs of shareholders. 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). Fund of Mutual Financial Aid of the credit union can be extended by sponsorship contributions from businesses, organizations, including on a returnable basis.
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The supreme body of the World Council of Credit Unions is the Assembly, which elects the president and the board of directors of WOCCU. Contributions from of shareholders in credit unions in no way can be considered as borrowed funds, they come from the shareholders and for the shareholders and can not be used to provide services to third parties. Credit unions historically formed as a special form of social support, initially taken upon themselves the social mission of protecting the interests of citizens in the field of financial services. Like any financial institution, credit unions have the financial resources. International cooperation has been particularly felt since the days when Alphonse Desjardins began the activity on development of credit union movement in North America. The relationship between credit unions and shareholders arise from the membership and are not customer relationship. Cooperation between credit unions, how they would not have been named, took place always, from the moment when the movement moved outside one credit union. In recent decades, many credit unions began to resort to such form of service as Credit unions are financial institutions, financial cooperatives of citizens, and in this capacity they are above all associations of people, not unification of capitals, which is typical, for example, for public companies.