Borrowing rate for the credit union is a source of income to cover the administrative costs. All excess funds are returned to members in the form of dividends on savings. Representative organization, leading the coordination work in the field of development of both global and national credit union movement is the World Council of Credit Unions (WOCCU) established in 1971 (headquartered in Madison, USA). Activity of the credit union consists of organizing mutual financial assistance by meeting the needs of its members in the services of saving and obtaining loans. All the members of the credit union, regardless of gender, ethnicity, religious and political beliefs, as well as the size of the monetary share have equal rights. Until the 70's there was a proliferation of the U.S. credit unions due to the increase of their number and the number of shareholders, although it must be acknowledged that there was also and a qualitative growth. 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 unions appeared in England in the 19th century. In 1844 a group of workers from Rochdale established the first cooperative. In the UK, credit unions are a source of financing of people groups. This tool is not widely used. On the consumer credit market in the U.S. credit unions are on the third place after the commercial banks and finance companies and are ahead of savings institutions, not taking into account the loans on real estate.