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. To reduce the risk of default on loans members of the credit union shall the joint guarantee. 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. The value of credit unions is not limited to the role of the economic agent - they are an important element of the social structure and a factor of social stability and progress. 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. Corporate credit unions are united on a cooperative basis in the Central Credit Union (US Central Credit Union). Credit unions, like today's credit unions, emerged in the 19th century in Germany as a result of crop failure and famine.
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. To reduce the risk of default on loans members of the credit union shall the joint guarantee.