Shareholders in corporate organizations are basic credit unions, besides the same union can be a shareholder of several corporate organizations. National Credit Union Administration (NCUA) - an independent federal agency, based in Washington (State of Columbia), established by the U.S. Congress to oversee the federal credit union system. Principles of cooperative democracy and interaction were adequate to the purposes for which people joined credit unions. Since the early 80's started the process of consolidation of credit unions, leading to a decrease in their number with a simultaneous increase in the total number of members. 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. Like the credit cooperatives, credit unions form associations of a higher level, which are called corporate credit unions. In the UK, credit unions are a source of financing of people groups. This tool is not widely used. Like any financial institution, credit unions have the financial resources. Consumer loan and reliable savings - these are the main goals, which mean "natural persons" having decided to unite in credit consumer cooperative. Credit union as a consumer cooperative operates on the principles of equality of all its members.
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Principles of cooperative democracy and interaction were adequate to the purposes for which people joined credit unions. Since the early 80's started the process of consolidation of credit unions, leading to a decrease in their number with a simultaneous increase in the total number of members. National Credit Union Administration (NCUA) - an independent federal agency, based in Washington (State of Columbia), established by the U.S. Congress to oversee the federal credit union system.
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The supreme body of the World Council of Credit Unions is the Assembly, which elects the president and the board of directors of WOCCU. Since the early 80's started the process of consolidation of credit unions, leading to a decrease in their number with a simultaneous increase in the total number of members. 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 Union - a non-profit financial institution specialized in mutual financial assistance by providing savings and credit services to their members. Credit unions, like today's credit unions, emerged in the 19th century in Germany as a result of crop failure and famine. In 1908. the spread of credit unions has reached the United States. In 1935 President Roosevelt signed the state Charter on credit unions, which became a law.