In the UK, credit unions are a source of financing of people groups. This tool is not widely used. Unlike banks credit unions limit their activities to a closed circle of people. The relationship of shareholders with credit union are not client-based, they are co-operative, based on different principles and standards, in particular, on the principles of the law of obligations. Corporate alliances are intermediaries between credit unions and financial markets. In the case of default the shareholder - individual will respond with its property and, in addition, is jointly and severally liable with the credit union's commitments. 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. The specifics of credit unions and, in some sense, their uniqueness lies in the fact that they work not for profit and do not appropriate profit.
The relationship of shareholders with credit union are not client-based, they are co-operative, based on different principles and standards, in particular, on the principles of the law of obligations. Corporate alliances are intermediaries between credit unions and financial markets. Unlike banks credit unions limit their activities to a closed circle of people.