Journal of Security and Sustainability Issues

A possible sustainable growth of the financial sector due to the development of activity of credit unions is being examined in this paper. Moreover the analysis of contemporary credit unions conceptions and problems of management improvement are performed. In addition theoretical priorities for credibility and international capabilities of credit unions are presented. A sketch of some actual theories is being performed and methods for analysis of credit unions’ activities are particularly composed. Following method of improvement of observational research was performed in this paper. In order to evaluate common tendencies of activities of the credit unions in the World and particularly in the European Union the financial institutions’ legal regulations are specially surveyed. Furthermore legal regulations of credit unions are analyzed in practice for local and international credit unions of Lithuania. The preliminary evaluation of the credit unions activity in the circumstances of contemporary waves of the financial crisis is presented. After examining available and possible theoretical and practical aspects the assumptions from the analyzed material are proposed. The article discusses the development of credit unions and the factors affecting the credit union managers approach to the credit union system development prospects. Despite an occurrence of the recent commercial banks global situation concerning the possible disappointment of consumers - credit unions are one of the best institutions for further financial sustainability in the retail credit markets. An object of this research is credit unions and some other self-credit institutions. In addition the accumulated global information from the cooperative financial institutions is overviewed.