Like the credit cooperatives, credit unions form associations of a higher level, which are called corporate credit unions. The difference between credit unions and banks is clearly is apparent when comparing the structure of assets and liabilities of credit unions and banks. 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. To reduce the risk of default on loans members of the credit union shall the joint guarantee. Worldwide credit union movement is represented by regional confederations and national organizations within the World Council of Credit Unions.