The number of shareholders of a credit union is limited and formalized by a list. Limit of the number is defined by the assembly and such assembly establishes the charter. Unlike banks credit unions limit their activities to a closed circle of people. 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. Like any financial institution, credit unions have the financial resources. Credit unions also differ from the traditional consumer cooperatives. To get a loan in the credit union a shareholder must be not only a formally adopted there, but necessary pay in cash contributions, the amount and order of payment of which approved by the General Assembly and fixed by the charter. Credit union as a consumer cooperative operates on the principles of equality of all its members.
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. Like any financial institution, credit unions have the financial resources. Unlike banks credit unions limit their activities to a closed circle of people.