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 difference between credit unions and banks is clearly is apparent when comparing the structure of assets and liabilities of credit unions and banks. Credit unions appeared in England in the 19th century. In 1844 a group of workers from Rochdale established the first cooperative. Credit unions base their activities on savings of shareholders, their shares and savings contributions, which make up the fund of mutual financial assistance - a source of cash loans to shareholders. Credit unions encourage the proper use of shareholders savings, developing social programs (education, health, recreation, housing, etc.).