Historically, credit unions were preceded by widespread development of credit cooperation in many countries of Europe and America. The economic basis of credit unions - finances of a household. The main objective of the credit union - to ensure financial stability of a household, to ensure the priority of their shareholders' financial interests. Main share of credit unions assets is concentrated in loans (about 50%), while the share of consumer loans in commercial banks and finance companies active operations rarely exceeds 15%. The most common type of loans in credit unions are loans to purchase new and used cars (40%), followed by first mortgages and second mortgages (35%), about 10% are unsecured personal loans to member of unions and about 15% - are loans on credit cards and other loans. Credit unions attract people in the first place by the opportunity to get cash loan (credit) - quickly and relatively inexpensively. Some credit unions are closed, serving only their members. However, the more and more popularitywin cooperatives of open type. Principles of cooperative democracy and interaction were adequate to the purposes for which people joined credit unions. 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. Credit unions appeared in England in the 19th century. In 1844 a group of workers from Rochdale established the first cooperative. 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 supreme body of the World Council of Credit Unions is the Assembly, which elects the president and the board of directors of WOCCU.