Principles of cooperative democracy and interaction were adequate to the purposes for which people joined credit unions. 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. Today, the World Council of Credit Unions is represented as members four regional confederations and twelve national associations. A potential new member of a credit union must submit a recommendation of shareholders in which the referee becomes a warrant of a future member of the credit union. Historically, credit unions were preceded by widespread development of credit cooperation in many countries of Europe and America. 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.