Historically, credit unions were preceded by widespread development of credit cooperation in many countries of Europe and America. 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. " Principles of cooperative democracy and interaction were adequate to the purposes for which people joined credit unions. 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. Until the 70's there was a proliferation of the U.S. credit unions due to the increase of their number and the number of shareholders, although it must be acknowledged that there was also and a qualitative growth. Contributions from of shareholders in credit unions in no way can be considered as borrowed funds, they come from the shareholders and for the shareholders and can not be used to provide services to third parties. The relationship between credit unions and shareholders arise from the membership and are not customer relationship. In the UK, credit unions are a source of financing of people groups. This tool is not widely used.