Some credit unions are closed, serving only their members. However, the more and more popularitywin cooperatives of open type. Credit union is created by a group of members who pursue a common interest. Agreeing to make regular contributions, they create a fund from which can borrow money for investments and replenishment of working capital at favorable interest rates. To reduce the risk of default on loans members of the credit union shall the joint guarantee. 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. To increase the number of credit unions in 1979 was adopted the corresponding law that serves as the legal basis of their activity. Today, the World Council of Credit Unions is represented as members four regional confederations and twelve national associations.