Historically, credit unions were preceded by widespread development of credit cooperation in many countries of Europe and America. Credit union is created by a group of members who pursue a common interest. Agreeing to make regular contributions, they create a fund from which can borrow money for investments and replenishment of working capital at favorable interest rates. Credit union services are available only to its shareholders. 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.