Fund of Mutual Financial Aid of the credit union can be extended by sponsorship contributions from businesses, organizations, including on a returnable basis. In recent decades, many credit unions began to resort to such form of service as In the credit union compensation for use of the loan (interest) is a source of compensation for savings. Consumer loan and reliable savings - these are the main goals, which mean "natural persons" having decided to unite in credit consumer cooperative. The relationship between credit unions and shareholders arise from the membership and are not customer relationship. The right to use the services of the credit union have only its members. Credit Union - a non-profit financial institution specialized in mutual financial assistance by providing savings and credit services to their members. Credit Union - one of the most attractive financial institutions for the public being a non-profit alternative to banks. Today, the World Council of Credit Unions is represented as members four regional confederations and twelve national associations.
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In the credit union compensation for use of the loan (interest) is a source of compensation for savings. Consumer loan and reliable savings - these are the main goals, which mean "natural persons" having decided to unite in credit consumer cooperative. In recent decades, many credit unions began to resort to such form of service as
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Historically, credit unions were preceded by widespread development of credit cooperation in many countries of Europe and America. Most modern credit unions represent specialized consumer cooperatives of citizens associated by the principle of social community: place of work, place of residence, profession, or any other shared interest. Some credit unions are closed, serving only their members. However, the more and more popularitywin cooperatives of open type. When organizing the credit union it is important that people know each other and know the extent to which each of them is trustworthy. Is necessary that all shareholders of the credit union were members of a single community, would know each other well enough to enjoy mutual trust. Among the U.S. credit unions, there are three groups that differ in terms of assets, shareholders, and business services. Taking a decision to join a credit union, citizens create an organization through which they participate in the shared savings by mutual crediting and joint (collective) use of personal savings. Shareholders in corporate organizations are basic credit unions, besides the same union can be a shareholder of several corporate organizations. A potential new member of a credit union must submit a recommendation of shareholders in which the referee becomes a warrant of a future member of the credit union.