Like any financial institution, credit unions have the financial resources. Today in the UK there are about 700 credit unions with assets exceeding 200 million pounds. Credit unions encourage savings of citizens, setting compensation payments (interest) on savings and provide from these savings loans to their members. First Credit Union was savings unprofitable institution, or rather credit cooperative, providing services to its members. 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. Over 30% of the assets of credit unions are investments in government securities, certificates of deposit of banks and savings loan associations, as well as in the parent credit unions, and other risk-free investments. Credit unions, like today's credit unions, emerged in the 19th century in Germany as a result of crop failure and famine. U.S. credit unions have another significant difference from the credit cooperatives of farmers: the first have major proportion of short-term loans, the second - long and mostly in real estate.