Activity of the credit union consists of organizing mutual financial assistance by meeting the needs of its members in the services of saving and obtaining loans. 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. 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 main activities of credit unions, aimed at the organization of mutual aid and social support of citizens is not intended to profit. Credit Union - one of the most attractive financial institutions for the public being a non-profit alternative to banks.
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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 main activities of credit unions, aimed at the organization of mutual aid and social support of citizens is not intended to profit. 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.
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Corporate credit unions are united on a cooperative basis in the Central Credit Union (US Central Credit Union). To date, credit unions - virtually the only form of financial institution where people can quickly and without any problems get a relatively inexpensive cash loan. The first credit union in the United States was founded in 1909. by the group of Franco-American Catholics in Manchester, New Hampshire, and was called "Cooperative Credit Association of St. Mary. " Representative organization, leading the coordination work in the field of development of both global and national credit union movement is the World Council of Credit Unions (WOCCU) established in 1971 (headquartered in Madison, USA). Like the credit cooperatives, credit unions form associations of a higher level, which are called corporate credit unions. Taking a decision to join a credit union, citizens create an organization through which they participate in the shared savings by mutual crediting and joint (collective) use of personal savings. To increase the number of credit unions in 1979 was adopted the corresponding law that serves as the legal basis of their activity.