On the consumer credit market in the U.S. credit unions are on the third place after the commercial banks and finance companies and are ahead of savings institutions, not taking into account the loans on real estate. When organizing the credit union it is important that people know each other and know the extent to which each of them is trustworthy. Today in the UK there are about 700 credit unions with assets exceeding 200 million pounds. To date, credit unions - virtually the only form of financial institution where people can quickly and without any problems get a relatively inexpensive cash loan. Members of credit unions place in credit unions usually free fund balances, ie those that remain after expenses devoted to education of children, the acquisition of new properties, additional pension benefits, etc. Unlike banks, in order to use the services of a credit union, you have to become its member, having written an application and having paid thus shares and membership fee. Membership in the credit union is voluntary and is open to all citizens bound by with joint work or residence, who wished to create a credit union to use its services and are willing to take on relevant commitments and responsibilities.
Today in the UK there are about 700 credit unions with assets exceeding 200 million pounds. To date, credit unions - virtually the only form of financial institution where people can quickly and without any problems get a relatively inexpensive cash loan. When organizing the credit union it is important that people know each other and know the extent to which each of them is trustworthy.