In the U.S., credit unions have a clear organizational structure. All credit unions belong to one or the other parent credit union (there are 35 of them in the U.S.). Most modern credit unions represent specialized consumer cooperatives of citizens associated by the principle of social community: place of work, place of residence, profession, or any other shared interest. Representative organization, leading the coordination work in the field of development of both global and national credit union movement is the World Council of Credit Unions (WOCCU) established in 1971 (headquartered in Madison, USA). Some credit unions are closed, serving only their members. However, the more and more popularitywin cooperatives of open type. Like the credit cooperatives, credit unions form associations of a higher level, which are called corporate 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. The main advantage of credit unions consists in transparency, controllability, governance for shareholders. Important specifics of creating a credit union - an initiative order of organization: people do not receive any instructions, orders or regulations, the unification into a credit union occurs by their will and decision. Credit unions, like today's credit unions, emerged in the 19th century in Germany as a result of crop failure and famine.