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. Since the early 80's started the process of consolidation of credit unions, leading to a decrease in their number with a simultaneous increase in the total number of members. To reduce the risk of default on loans members of the credit union shall the joint guarantee. International cooperation has been particularly felt since the days when Alphonse Desjardins began the activity on development of credit union movement in North America. Credit unions encourage the proper use of shareholders savings, developing social programs (education, health, recreation, housing, etc.). Corporate alliances are intermediaries between credit unions and financial markets. In some cases, the initiators of credit unions can be trade unions, associations such as social support centers and others. Credit union as a consumer cooperative operates on the principles of equality of all its members.
To reduce the risk of default on loans members of the credit union shall the joint guarantee. International cooperation has been particularly felt since the days when Alphonse Desjardins began the activity on development of credit union movement in North America. Since the early 80's started the process of consolidation of credit unions, leading to a decrease in their number with a simultaneous increase in the total number of members.