Worldwide credit union movement is represented by regional confederations and national organizations within the World Council of Credit Unions. Unlike banks credit unions limit their activities to a closed circle of people. Credit Union - a non-profit financial institution specialized in mutual financial assistance by providing savings and credit services to their members. 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. " To date, credit unions - virtually the only form of financial institution where people can quickly and without any problems get a relatively inexpensive cash loan. Credit unions of the open type are still controlled by their members, but at the same time provide services to people who are not its members (external customers).
Credit Union - a non-profit financial institution specialized in mutual financial assistance by providing savings and credit services to their members. 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. " Unlike banks credit unions limit their activities to a closed circle of people.