Principles of cooperative democracy and interaction were adequate to the purposes for which people joined credit unions. The supreme body of the World Council of Credit Unions is the Assembly, which elects the president and the board of directors of WOCCU. The specifics of the credit union as a credit consumer cooperative is that it is a form of mutual financial assistance of citizens. The uniqueness of credit unions is that they put together the principles and benefits of financial cooperatives, consumer cooperatives and mutual aid funds, born once by trade unions. Credit unions historically formed as a special form of social support, initially taken upon themselves the social mission of protecting the interests of citizens in the field of financial services. Credit Union - a non-profit financial institution specialized in mutual financial assistance by providing savings and credit services to their members. Historically, credit unions were preceded by widespread development of credit cooperation in many countries of Europe and America. In recent decades, many credit unions began to resort to such form of service as In some cases, the initiators of credit unions can be trade unions, associations such as social support centers and others.
The specifics of the credit union as a credit consumer cooperative is that it is a form of mutual financial assistance of citizens. The uniqueness of credit unions is that they put together the principles and benefits of financial cooperatives, consumer cooperatives and mutual aid funds, born once by trade unions. The supreme body of the World Council of Credit Unions is the Assembly, which elects the president and the board of directors of WOCCU.