Historically, credit unions were preceded by widespread development of credit cooperation in many countries of Europe and America. Corporate credit unions are united on a cooperative basis in the Central Credit Union (US Central Credit Union). Like any financial institution, credit unions have the financial resources. First central bank of credit unions appeared in 1876. Credit unions began to appear rapidly in many European countries. Credit unions are competitors of savings institutions, adding interest on deposits of members. This applies to the shares, as well as to additional funds transferred to the account in the credit union. Credit unions are financial institutions, financial cooperatives of citizens, and in this capacity they are above all associations of people, not unification of capitals, which is typical, for example, for public companies. The right to use the services of the credit union have only its members. Today, the World Council of Credit Unions is represented as members four regional confederations and twelve national associations.