Credit unions perform the function of social protection in a vital for people sphere of financial services. They care about improving the financial literacy of the population, are working on the formation of their members and their employees. Specialization of credit unions to provide financial services to its shareholders requires a particularly strict regulation of membership and acceptable activities. Today in the UK there are about 700 credit unions with assets exceeding 200 million pounds. First Credit Union was savings unprofitable institution, or rather credit cooperative, providing services to its members. 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. 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 Union - one of the most attractive financial institutions for the public being a non-profit alternative to banks. 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.
Today in the UK there are about 700 credit unions with assets exceeding 200 million pounds. First Credit Union was savings unprofitable institution, or rather credit cooperative, providing services to its members. Specialization of credit unions to provide financial services to its shareholders requires a particularly strict regulation of membership and acceptable activities.