The first credit union in the United States was founded in 1909. by the group of Franco-American Catholics in Manchester, New Hampshire, and was called "Cooperative Credit Association of St. Mary. " Today in the UK there are about 700 credit unions with assets exceeding 200 million pounds. First Credit Union was savings unprofitable institution, or rather credit cooperative, providing services to its members. 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). 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. Credit Union - a non-profit financial institution specialized in mutual financial assistance by providing savings and credit services to their members. Worldwide credit union movement is represented by regional confederations and national organizations within the World Council of Credit Unions. 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.