In recent decades, many credit unions began to resort to such form of service as 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. To reduce the risk of default on loans members of the credit union shall the joint guarantee. As of the January 1, 2012 the national associations and confederations unite more than 196 million members participating in the 51,013 credit unions in 100 countries. In some cases, the initiators of credit unions can be trade unions, associations such as social support centers and others. In the UK, credit unions are a source of financing of people groups. This tool is not widely used. Worldwide credit union movement is represented by regional confederations and national organizations within the World Council of Credit Unions.
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To reduce the risk of default on loans members of the credit union shall the joint guarantee. As of the January 1, 2012 the national associations and confederations unite more than 196 million members participating in the 51,013 credit unions in 100 countries. 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.
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Historically, credit unions were preceded by widespread development of credit cooperation in many countries of Europe and America. To get a loan in the credit union a shareholder must be not only a formally adopted there, but necessary pay in cash contributions, the amount and order of payment of which approved by the General Assembly and fixed by the charter. Today in the UK there are about 700 credit unions with assets exceeding 200 million pounds. 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. Cooperation between credit unions, how they would not have been named, took place always, from the moment when the movement moved outside one credit union. Credit unions of the open type are still controlled by their members, but at the same time provide services to people who are not its members (external customers). In the UK, credit unions are a source of financing of people groups. This tool is not widely used. Credit Union - one of the most attractive financial institutions for the public being a non-profit alternative to banks.