Historically, credit unions were preceded by widespread development of credit cooperation in many countries of Europe and America. Principles of cooperative democracy and interaction were adequate to the purposes for which people joined credit unions. Credit union is created by a group of members who pursue a common interest. Agreeing to make regular contributions, they create a fund from which can borrow money for investments and replenishment of working capital at favorable interest rates. First Credit Union was savings unprofitable institution, or rather credit cooperative, providing services to its members. Share contributions are transferred to the credit union on the basis of membership for the whole stay of a shareholder as member of the credit union and are the basis of membership. Credit Union - a non-profit financial institution specialized in mutual financial assistance by providing savings and credit services to their members. Credit union as a consumer cooperative operates on the principles of equality of all its members.