Specialization of credit unions to provide financial services to its shareholders requires a particularly strict regulation of membership and acceptable activities. First central bank of credit unions appeared in 1876. Credit unions began to appear rapidly in many European countries. Membership in the credit union forms responsible citizens and conscientious attitude to their obligations as a norm of behavior, identify the value of a decent man's reputation in the business turnover. Contributions from of shareholders in credit unions in no way can be considered as borrowed funds, they come from the shareholders and for the shareholders and can not be used to provide services to third parties. The value of credit unions is not limited to the role of the economic agent - they are an important element of the social structure and a factor of social stability and progress. Worldwide credit union movement is represented by regional confederations and national organizations within the World Council of Credit Unions.
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Membership in the credit union forms responsible citizens and conscientious attitude to their obligations as a norm of behavior, identify the value of a decent man's reputation in the business turnover. Contributions from of shareholders in credit unions in no way can be considered as borrowed funds, they come from the shareholders and for the shareholders and can not be used to provide services to third parties. First central bank of credit unions appeared in 1876. Credit unions began to appear rapidly in many European countries.
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Fund of Mutual Financial Aid of the credit union can be extended by sponsorship contributions from businesses, organizations, including on a returnable basis. 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. 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. 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. Consumer loan and reliable savings - these are the main goals, which mean "natural persons" having decided to unite in credit consumer cooperative. In some cases, the initiators of credit unions can be trade unions, associations such as social support centers and others. To increase the number of credit unions in 1979 was adopted the corresponding law that serves as the legal basis of their activity.