The supreme body of the World Council of Credit Unions is the Assembly, which elects the president and the board of directors of WOCCU. As of the January 1, 2012 the national associations and confederations unite more than 196 million members participating in the 51,013 credit unions in 100 countries. The value of credit unions is not limited to the role of the economic agent - they are an important element of the social structure and a factor of social stability and progress. First Credit Union was savings unprofitable institution, or rather credit cooperative, providing services to its members. Corporate alliances are intermediaries between credit unions and financial markets. In recent decades, many credit unions began to resort to such form of service as 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. In some cases, the initiators of credit unions can be trade unions, associations such as social support centers and others. 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.
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The value of credit unions is not limited to the role of the economic agent - they are an important element of the social structure and a factor of social stability and progress. First Credit Union was savings unprofitable institution, or rather credit cooperative, providing services to its members. As of the January 1, 2012 the national associations and confederations unite more than 196 million members participating in the 51,013 credit unions in 100 countries.
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Credit unions perform the function of social protection in a vital for people sphere of financial services. They care about improving the financial literacy of the population, are working on the formation of their members and their employees. Credit unions are competitors of savings institutions, adding interest on deposits of members. This applies to the shares, as well as to additional funds transferred to the account in the credit union. The specifics of the credit union as a credit consumer cooperative is that it is a form of mutual financial assistance of citizens. 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. When organizing the credit union it is important that people know each other and know the extent to which each of them is trustworthy. Cooperation between credit unions, how they would not have been named, took place always, from the moment when the movement moved outside one credit union.