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. As of the January 1, 2012 the national associations and confederations unite more than 196 million members participating in the 51,013 credit unions in 100 countries. In the UK, credit unions are a source of financing of people groups. This tool is not widely used. Today, the World Council of Credit Unions is represented as members four regional confederations and twelve national associations.