Credit unions encourage savings of citizens, setting compensation payments (interest) on savings and provide from these savings loans to their members. Credit unions also differ from the traditional consumer cooperatives. First Credit Union was savings unprofitable institution, or rather credit cooperative, providing services to its members. Typically new members of the credit union become citizens having suretyship or recommendations from their friends - members of the credit union. At the organization of the credit union it is important that people know each other and know the extent to which each of them is trustworthy. National Credit Union Insurance Fund was created by Congress in 1970 to insure deposits of credit union members in the amount of 100 thousand dollars. Unlike banks, in order to use the services of a credit union, you have to become its member, having written an application and having paid thus shares and membership fee.