Like the credit cooperatives, credit unions form associations of a higher level, which are called corporate credit unions. Credit unions encourage savings of citizens, setting compensation payments (interest) on savings and provide from these savings loans to their members. Specialization of credit unions to provide financial services to its shareholders requires a particularly strict regulation of membership and acceptable activities. In the U.S. credit unions timely and full repayment of loans is a common phenomenon. Unpaid and delinquent loans are not more than 3% of their amount. Credit union promotes the effective conservation of personal funds of its members, giving them the loans from the funds of the credit union, as well as the sharing of savings in education, housing, health care and other programs of social support and social development of its members. Credit unions, like today's credit unions, emerged in the 19th century in Germany as a result of crop failure and famine. Credit unions are financial institutions, financial cooperatives of citizens, and in this capacity they are above all associations of people, not unification of capitals, which is typical, for example, for public companies. Credit Union - a non-profit financial institution specialized in mutual financial assistance by providing savings and credit services to their members. Credit unions historically formed as a special form of social support, initially taken upon themselves the social mission of protecting the interests of citizens in the field of financial services. 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.