Most modern credit unions represent specialized consumer cooperatives of citizens associated by the principle of social community: place of work, place of residence, profession, or any other shared interest. Borrowing rate for the credit union is a source of income to cover the administrative costs. All excess funds are returned to members in the form of dividends on savings. 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. 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. Credit unions encourage the proper use of shareholders savings, developing social programs (education, health, recreation, housing, etc.). Credit unions historically formed as a special form of social support, initially taken upon themselves the social mission of protecting the interests of citizens in the field of financial services. A potential new member of a credit union must submit a recommendation of shareholders in which the referee becomes a warrant of a future member of the credit union.