Today in the UK there are about 700 credit unions with assets exceeding 200 million pounds. First central bank of credit unions appeared in 1876. Credit unions began to appear rapidly in many European countries. Credit unions, like today's credit unions, emerged in the 19th century in Germany as a result of crop failure and famine. 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. Worldwide credit union movement is represented by regional confederations and national organizations within the World Council of Credit Unions.