National Credit Union Insurance Fund was created by Congress in 1970 to insure deposits of credit union members in the amount of 100 thousand dollars. The number of shareholders of a credit union is limited and formalized by a list. Limit of the number is defined by the assembly and such assembly establishes the charter. To reduce the risk of default on loans members of the credit union shall the joint guarantee. Credit unions appeared in England in the 19th century. In 1844 a group of workers from Rochdale established the first cooperative. Credit unions encourage savings of citizens, setting compensation payments (interest) on savings and provide from these savings loans to their members. Cooperation between credit unions, how they would not have been named, took place always, from the moment when the movement moved outside one credit union. Standards by which credit unions build their work do not coincide with the standards and regulations of consumer cooperation of the usual type.
To reduce the risk of default on loans members of the credit union shall the joint guarantee. Credit unions appeared in England in the 19th century. In 1844 a group of workers from Rochdale established the first cooperative. The number of shareholders of a credit union is limited and formalized by a list. Limit of the number is defined by the assembly and such assembly establishes the charter.