2012-10-09
Verslo Kredito Unija to be issued a licence
The Board of the Bank of Lithuania decided to issue a licence to Verslo Kredito Unija, which grants the right to provide the licensed financial services specified in subparagraphs 1 and 2 of Article 4(2) of the Republic of Lithuania Law on Credit Unions. This includes acceptance of deposits and other repayable funds from non-professional market participants and the payments services specified in Article 5 of the Law on Payments.
Member of this credit union can be a natural entity provided that he/she resides, works or studies on the territory of the Kaunas City Municipality or Kaunas District Municipality.
76 credit unions and the Central Credit Union of Lithuania are currently in operation in Lithuania.