Credit unions encourage savings of citizens, setting compensation payments (interest) on savings and provide from these savings loans to their members. First central bank of credit unions appeared in 1876. Credit unions began to appear rapidly in many European countries. Credit unions perform the function of social protection in a vital for people sphere of financial services. They care about improving the financial literacy of the population, are working on the formation of their members and their employees. 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. Credit unions of the open type are still controlled by their members, but at the same time provide services to people who are not its members (external customers). In some cases, the initiators of credit unions can be trade unions, associations such as social support centers and others. Unlike banks, in order to use the services of a credit union, you have to become its member, having written an application and having paid thus shares and membership fee. Credit union as a consumer cooperative operates on the principles of equality of all its members.