Historically, credit unions were preceded by widespread development of credit cooperation in many countries of Europe and America. Today in the UK there are about 700 credit unions with assets exceeding 200 million pounds. In the U.S. credit unions timely and full repayment of loans is a common phenomenon. Unpaid and delinquent loans are not more than 3% of their amount. 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 of the open type are still controlled by their members, but at the same time provide services to people who are not its members (external customers). Credit unions are competitors of savings institutions, adding interest on deposits of members. This applies to the shares, as well as to additional funds transferred to the account in the credit union. Initially, the target groups of credit unions were farmers (Raiffeisen), and now they include both individuals (credit unions), and organizations. In the case of default the shareholder - individual will respond with its property and, in addition, is jointly and severally liable with the credit union's commitments. In the UK, credit unions are a source of financing of people groups. This tool is not widely used. Credit unions, like today's credit unions, emerged in the 19th century in Germany as a result of crop failure and famine.