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. Credit union services are available only to its shareholders. In the case of default the shareholder - individual will respond with its property and, in addition, is jointly and severally liable with the credit union's commitments. Worldwide credit union movement is represented by regional confederations and national organizations within the World Council of Credit Unions.