Worldwide credit union movement is represented by regional confederations and national organizations within the World Council of Credit Unions. The number of shareholders of a credit union is limited and formalized by a list. Limit of the number is defined by the assembly and such assembly establishes the charter. Credit unions attract people in the first place by the opportunity to get cash loan (credit) - quickly and relatively inexpensively. The relationship between credit unions and shareholders arise from the membership and are not customer relationship. Standards by which credit unions build their work do not coincide with the standards and regulations of consumer cooperation of the usual type. Until the 70's there was a proliferation of the U.S. credit unions due to the increase of their number and the number of shareholders, although it must be acknowledged that there was also and a qualitative growth. Consumer loan and reliable savings - these are the main goals, which mean "natural persons" having decided to unite in credit consumer cooperative. In some cases, the initiators of credit unions can be trade unions, associations such as social support centers and others.
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Credit unions attract people in the first place by the opportunity to get cash loan (credit) - quickly and relatively inexpensively. The relationship between credit unions and shareholders arise from the membership and are not customer relationship. The number of shareholders of a credit union is limited and formalized by a list. Limit of the number is defined by the assembly and such assembly establishes the charter.
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Income derived from the provision of services to its members, does not become the profit of credit union and is distributed among its members in proportion to their savings. Like the credit cooperatives, credit unions form associations of a higher level, which are called corporate credit unions. Today in the UK there are about 700 credit unions with assets exceeding 200 million pounds. Historically, credit unions were preceded by widespread development of credit cooperation in many countries of Europe and America. Credit unions encourage savings of citizens, setting compensation payments (interest) on savings and provide from these savings loans to their members. Standards by which credit unions build their work do not coincide with the standards and regulations of consumer cooperation of the usual type. The main advantage of credit unions consists in transparency, controllability, governance for shareholders.