Activity of the credit union consists of organizing mutual financial assistance by meeting the needs of its members in the services of saving and obtaining loans. Like the credit cooperatives, credit unions form associations of a higher level, which are called corporate credit unions. 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. First central bank of credit unions appeared in 1876. Credit unions began to appear rapidly in many European countries. Contributions from of shareholders in credit unions in no way can be considered as borrowed funds, they come from the shareholders and for the shareholders and can not be used to provide services to third parties. Standards by which credit unions build their work do not coincide with the standards and regulations of consumer cooperation of the usual type. Credit cooperatives and credit unions exist in many different forms. The main differences relate to the nature of the membership and the opening of a credit institution. Credit unions encourage the proper use of shareholders savings, developing social programs (education, health, recreation, housing, etc.).