The first credit union in the United States was founded in 1909. by the group of Franco-American Catholics in Manchester, New Hampshire, and was called "Cooperative Credit Association of St. Mary. " Is necessary that all shareholders of the credit union were members of a single community, would know each other well enough to enjoy mutual trust. 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. Among the U.S. credit unions, there are three groups that differ in terms of assets, shareholders, and business services. Share contributions are transferred to the credit union on the basis of membership for the whole stay of a shareholder as member of the credit union and are the basis of membership. To reduce the risk of default on loans members of the credit union shall the joint guarantee. In some cases, the initiators of credit unions can be trade unions, associations such as social support centers and others. Corporate alliances are intermediaries between credit unions and financial markets.