Historically, credit unions were preceded by widespread development of credit cooperation in many countries of Europe and America. In recent decades, many credit unions began to resort to such form of service as To reduce the risk of default on loans members of the credit union shall the joint guarantee. The main advantage of credit unions consists in transparency, controllability, governance for shareholders. Credit unions are competitors of savings institutions, adding interest on deposits of members. This applies to the shares, as well as to additional funds transferred to the account in the credit union.