Most modern credit unions represent specialized consumer cooperatives of citizens associated by the principle of social community: place of work, place of residence, profession, or any other shared interest. The uniqueness of credit unions is that they put together the principles and benefits of financial cooperatives, consumer cooperatives and mutual aid funds, born once by trade unions. To reduce the risk of default on loans members of the credit union shall the joint guarantee. International cooperation has been particularly felt since the days when Alphonse Desjardins began the activity on development of credit union movement in North America. Shareholders in corporate organizations are basic credit unions, besides the same union can be a shareholder of several corporate organizations. U.S. credit unions have another significant difference from the credit cooperatives of farmers: the first have major proportion of short-term loans, the second - long and mostly in real estate.