Funder

LCCU is a cooperative member-based financial institution, which was established by credit unions and the Government of the Republic of Lithuania. It is a second-tier organization of Lithuanian credit unions. LCCU functions on the basis of share capital and discharges the functions of supporting liquidity and restoration of solvency of credit union and other repayable funds, grants loans, assumes related risk and responsibility. LCCU provides financial and provides financial and other services to credit unions and their members (customers). Main functions of LCCU are credit unions' liquidity management, credit unions' solvency maintenance, provision of payment and clearing, international payment cards and e-banking services to credit unions and their members, training and consulting of credit unions' employees and elected bodies and representation of the network. Main challenges in the future are to introduce new information system in the credit unions and to ensure further sound development of credit unions’ network. LCCU only provides loans to member credit unions in Lithuania