The first credit union in the United States was founded in 1909. by the group of Franco-American Catholics in Manchester, New Hampshire, and was called "Cooperative Credit Association of St. Mary. " Today in the UK there are about 700 credit unions with assets exceeding 200 million pounds. Like the credit cooperatives, credit unions form associations of a higher level, which are called corporate credit unions. The difference between credit unions and banks is clearly is apparent when comparing the structure of assets and liabilities of credit unions and banks. Since the early 80's started the process of consolidation of credit unions, leading to a decrease in their number with a simultaneous increase in the total number of members. The main activities of credit unions, aimed at the organization of mutual aid and social support of citizens is not intended to profit. The right to use the services of the credit union have only its members. 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. Credit Union - one of the most attractive financial institutions for the public being a non-profit alternative to banks. 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.