Since the early 80's started the process of consolidation of credit unions, leading to a decrease in their number with a simultaneous increase in the total number of members. Credit Union - a non-profit financial institution specialized in mutual financial assistance by providing savings and credit services to their members. The relationship between credit unions and shareholders arise from the membership and are not customer relationship. 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). The economic basis of credit unions - finances of a household. The main objective of the credit union - to ensure financial stability of a household, to ensure the priority of their shareholders' financial interests. 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 relationship between credit unions and shareholders arise from the membership and are not customer relationship. 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.