Principles of cooperative democracy and interaction were adequate to the purposes for which people joined credit unions. The specifics of the credit union as a credit consumer cooperative is that it is a form of mutual financial assistance of citizens. The main activities of credit unions, aimed at the organization of mutual aid and social support of citizens is not intended to profit. Contributions from of shareholders in credit unions in no way can be considered as borrowed funds, they come from the shareholders and for the shareholders and can not be used to provide services to third parties. Credit unions encourage the proper use of shareholders savings, developing social programs (education, health, recreation, housing, etc.). Until the 70's there was a proliferation of the U.S. credit unions due to the increase of their number and the number of shareholders, although it must be acknowledged that there was also and a qualitative growth. The main advantage of credit unions consists in transparency, controllability, governance for shareholders.
The main activities of credit unions, aimed at the organization of mutual aid and social support of citizens is not intended to profit. Contributions from of shareholders in credit unions in no way can be considered as borrowed funds, they come from the shareholders and for the shareholders and can not be used to provide services to third parties. The specifics of the credit union as a credit consumer cooperative is that it is a form of mutual financial assistance of citizens.