Historically, credit unions were preceded by widespread development of credit cooperation in many countries of Europe and America. National Credit Union Administration (NCUA) - an independent federal agency, based in Washington (State of Columbia), established by the U.S. Congress to oversee the federal credit union system. 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. Shareholders in corporate organizations are basic credit unions, besides the same union can be a shareholder of several corporate organizations. Standards by which credit unions build their work do not coincide with the standards and regulations of consumer cooperation of the usual type.