Credit unions encourage savings of citizens, setting compensation payments (interest) on savings and provide from these savings loans to their members. Principles of cooperative democracy and interaction were adequate to the purposes for which people joined credit unions. At the organization of the credit union it is important that people know each other and know the extent to which each of them is trustworthy. 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. 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). As of the January 1, 2012 the national associations and confederations unite more than 196 million members participating in the 51,013 credit unions in 100 countries. Credit cooperatives and credit unions exist in many different forms. The main differences relate to the nature of the membership and the opening of a credit institution. Unlike banks credit unions limit their activities to a closed circle of people. Credit union as a consumer cooperative operates on the principles of equality of all its members.