Credit Union In this kind of a credit institution as a credit cooperative law provides. But the law provides for the existence of credit consumer cooperatives.

As a form of credit cooperative may be considered agricultural cooperatives, housing and savings cooperatives that carry out the function of storage and redistributed funds, thereby finance the building of new housing and purchase of finished housing loans on the principles of cooperative members.

One of the main directions of development of the banking system is the use of international experience. In light of the above, it is worth noting that in countries with developed financial system, as it is in Germany, France, Spain, China, the practice has been to regulate the activities of credit cooperatives as a bank or specialized cooperative legislation.

Thus, the legal framework for the functioning of credit unions in Germany are as regulations establishing the legal status of legal entities established in the form of associations (Law "On the commercial and economic partnerships") and the regulations governing the implementation of the credit activity in general, and certain types of banking operations (laws "On the credit file", "The Bill", "Cheque", "Consumer Credit", "On the Securities Exchange").

Legal regulation of agricultural credit cooperatives in France also carried out on the basis of a special cooperative legislation and laws governing the activities of financial institutions. Thus, apart from the Law "On Cooperation", enshrining basic cooperative principles, the status of banking cooperatives defined in the Law "On banks cooperatives" and the Law "On Banks", which sets the differences of cooperative credit institutions from other banking institutions  Credit Union .

In Spain, the activities of credit cooperatives are governed by the Law "On banking stewardship" as well as the general law "On Cooperatives" and the law "On credit cooperatives."

The legal basis of the rural credit cooperatives in China are adopted by the People's Bank and the Agricultural Bank of China Provisional Regulations "On the financial management of rural credit cooperatives", and Decision of the State Council of the PRC "On the reform of the monetary system in the country", which define the basic principles of the system reform and rural credit cooperatives.
In addition, the rural credit cooperatives extends to the law "About Us" and the Law "On Commercial Banks" in the part of the depository credit cooperatives, credit and settlement operations.

One of the hallmarks of a developed banking systems of most countries of the world - take, for example, Germany, France, USA, Italy, Spain, China, the Netherlands, Poland - is the choice of the legal form to create a credit institution - from the company to the credit cooperative . Moreover, in contrast to the law and legal systems of most countries of the former with the Law of Ukraine "On Banks and Banking Activity" also allows the possibility of a cooperative bank and credit cooperatives in Latvia have the status of non-bank financial institutions, whose activities are carried out on the basis of licenses issued Bank of Latvia  Credit Union  .