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. Activity of the credit union consists of organizing mutual financial assistance by meeting the needs of its members in the services of saving and obtaining loans. First central bank of credit unions appeared in 1876. Credit unions began to appear rapidly in many European countries. The main activities of credit unions, aimed at the organization of mutual aid and social support of citizens is not intended to profit.