Historically, credit unions were preceded by widespread development of credit cooperation in many countries of Europe and America. Borrowing rate for the credit union is a source of income to cover the administrative costs. All excess funds are returned to members in the form of dividends on savings. Activity of the credit union consists of organizing mutual financial assistance by meeting the needs of its members in the services of saving and obtaining loans. Specialization of credit unions to provide financial services to its shareholders requires a particularly strict regulation of membership and acceptable activities. 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. Credit unions of the open type are still controlled by their members, but at the same time provide services to people who are not its members (external customers). Credit unions appeared in England in the 19th century. In 1844 a group of workers from Rochdale established the first cooperative. Shareholders in corporate organizations are basic credit unions, besides the same union can be a shareholder of several corporate organizations. Important specifics of creating a credit union - an initiative order of organization: people do not receive any instructions, orders or regulations, the unification into a credit union occurs by their will and decision.