Corporate credit unions are united on a cooperative basis in the Central Credit Union (US Central Credit Union). Principles of cooperative democracy and interaction were adequate to the purposes for which people joined credit unions. To reduce the risk of default on loans members of the credit union shall the joint guarantee. Income derived from the provision of services to its members, does not become the profit of credit union and is distributed among its members in proportion to their savings. Credit unions appeared in England in the 19th century. In 1844 a group of workers from Rochdale established the first cooperative. The relationship between credit unions and shareholders arise from the membership and are not customer relationship. Unlike banks credit unions limit their activities to a closed circle of people. Corporate alliances are intermediaries between credit unions and financial markets.