First central bank of credit unions appeared in 1876. Credit unions began to appear rapidly in many European countries. 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. The specifics of the credit union as a credit consumer cooperative is that it is a form of mutual financial assistance of citizens. Some credit unions are closed, serving only their members. However, the more and more popularitywin cooperatives of open type. In 1908. the spread of credit unions has reached the United States. In 1935 President Roosevelt signed the state Charter on credit unions, which became a law.
The specifics of the credit union as a credit consumer cooperative is that it is a form of mutual financial assistance of citizens. Some credit unions are closed, serving only their members. However, the more and more popularitywin cooperatives of open type. 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.