Permission to establish a new credit union issued
The Board of the Bank of Lithuania allowed to establish a credit union “LTL Kredito unija”. The union’s articles of association define that natural entities may become members of this union, if they reside, work or study in the territory of the Vilnius City Municipality or in the territories of the neighbouring Vilnius and Trakai District Municipalities.
According to the founders of the union, preference in the operation of the union will be given to financial services to small business and natural persons. Its registered office will be located in Vilnius.
Currently, 74 credit unions and the Central Credit Union of Lithuania are operating in Lithuania.