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. The main activities of credit unions, aimed at the organization of mutual aid and social support of citizens is not intended to profit. Credit unions appeared in England in the 19th century. In 1844 a group of workers from Rochdale established the first cooperative. Income received by the credit union shall be distributed among the shareholders or spent for the depreciation of services, that is, are the most effective means of meeting the needs of shareholders. Credit union services are available only to its shareholders. In the case of default the shareholder - individual will respond with its property and, in addition, is jointly and severally liable with the credit union's commitments.