Credit union is created by a group of members who pursue a common interest. Agreeing to make regular contributions, they create a fund from which can borrow money for investments and replenishment of working capital at favorable interest rates. First Credit Union was savings unprofitable institution, or rather credit cooperative, providing services to its members. When organizing the credit union it is important that people know each other and know the extent to which each of them is trustworthy. First central bank of credit unions appeared in 1876. Credit unions began to appear rapidly in many European countries. National Credit Union Insurance Fund was created by Congress in 1970 to insure deposits of credit union members in the amount of 100 thousand dollars. The relationship between credit unions and shareholders arise from the membership and are not customer relationship. The supreme body of the World Council of Credit Unions is the Assembly, which elects the president and the board of directors of WOCCU. The right to use the services of the credit union have only its members. 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.