Historically, credit unions were preceded by widespread development of credit cooperation in many countries of Europe and America. To get a loan in the credit union a shareholder must be not only a formally adopted there, but necessary pay in cash contributions, the amount and order of payment of which approved by the General Assembly and fixed by the charter. In 1908. the spread of credit unions has reached the United States. In 1935 President Roosevelt signed the state Charter on credit unions, which became a law. In recent decades, many credit unions began to resort to such form of service as First Credit Union was savings unprofitable institution, or rather credit cooperative, providing services to its members. When organizing 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. 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. A credit union on its own initiative order is created by citizens (individuals) to solve their financial problems that they could not solve in other financial institutions.