Some credit unions are closed, serving only their members. However, the more and more popularitywin cooperatives of open type. Like the credit cooperatives, credit unions form associations of a higher level, which are called corporate credit unions. 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. Worldwide credit union movement is represented by regional confederations and national organizations within the World Council of Credit Unions.