Like any financial institution, credit unions have the financial resources. 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. " Credit union promotes the effective conservation of personal funds of its members, giving them the loans from the funds of the credit union, as well as the sharing of savings in education, housing, health care and other programs of social support and social development of its members. 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. In the credit union compensation for use of the loan (interest) is a source of compensation for savings. Initially, the target groups of credit unions were farmers (Raiffeisen), and now they include both individuals (credit unions), and organizations.