Licensing of credit unions
In order to obtain a special credit union operating permit (licence), a newly established union shall submit to Latvijas Banka an application and documents required for obtaining a licence in accordance with the procedures prescribed by regulatory enactments.
Latvijas Banka shall process an application for a special credit union operating permit (licence) within a three-month period after the receipt of all the necessary documents. Latvijas Banka is entitled not to issue a special credit union operating licence to a newly established credit union, if, when establishing it, laws, regulatory enactments and instructions of Latvijas Banka have not been complied with.
Latvijas Banka shall issue a credit union operating licence of an unlimited duration.
Latvijas Banka shall issue the licence within a three-day period after the receipt of a copy of the certified registration certificate of the credit union.
Relevant regulatory rules for licensing of credit unions are available on the Latvijas Banka’s website.
Apply for advice! Please apply in advance to agree on the meeting time: