REGIONAL PROFILE DIGEST

• Capitol – Tirana 418.495 (2017)
• Population – 2.870.000 (2017)
• Total CU Sector Penetration rate – 5.81% (2018)
• GDP – USD 4.537 (2018)
• Human Development Index – 0.785 (2018), rank 68

Credit Unions Information (all data Dec 2019)
• Number of credit unions – 14
• Number of members (total) 114.480
• Assets: USD 107.393.220
• Loans: USD 74.322.330
• Reserves: USD 7.610.123
• Shares: 80.499.123
• Apex (-s) details: no apex, cu system is composed of two multi branched credit unions

Legislative Framework
• Legal form: cooperative under cu law, regulated and supervised by the National Bank of Albania
• Law on credit unions: Law 52/2016 For Savings and Credit Association and their Unions
• CRDIV exemption status: no
• Access to payment system: no
• Deposit guarantees: yes
• Debit/credit cards: no
• Services: consumer credit, agri lending, SME lending
• Tax regime: no corporate/income tax

EU Status
EU Candidate country since 2014. Membership negotiations to start in 2019

• Capitol – Zagreb 806.920 (2016) • Population – 4.174.349 (2016) • Total CU Sector Penetration rate – 1.1% • GDP – USD 13.386 (2017) • Human Development Index – 0.831, rank: 46 Credit Unions Information (all data June 2019) • Number of credit unions: 20 • Number of members: 44.402 • Assets: USD 78.855.224 • Loans: USD 67.332.633 • Reserves: USD 4.418.163 • Shares: USD 66.182.070 • Apex (-s) details: Croatian Association of Credit Unions, est. in 2011, volunteer non-profit: advocacy, lobbying, no financial functions. Legislative Framework • Legal form: financial institution under Credit Unions Act no. 488/2011, regulated and supervised by the National Bank • Law on credit unions 488/2011 • CRDIV exemption status: yes • Access to payment system: no • Deposit guarantees: no • Debit/credit cards: no • Services: consumer credit to individuals • Tax regime: yes EU Status EU member since 2013

• Capitol – Tallinn 435.562 (2017)
• Population – 1.316.000 9 (2017)
• Total CU Sector Penetration rate – 0.46
• GDP – USD 20.200 (2017)
• Human Development Index – 0.871, rank 30 (2017)

Credit Unions Information (all data Dec 2019)
• Number of credit unions: 19
• Number of members: 15.010
• Assets: USD 181.943.265
• Loans: USD 172.421.666
• Reserves: 4.190.389
• Shares: USD 173.199.885
• Apex (-s) details: Estonian Union of Credit Cooperatives EUCC
Lobbying, advocacy, training. Founder of own Deposit Guarantee Fund and other joint ventures for payment services

Legislative Framework
• Legal form: cooperative under cu law, self-regulated. Two cus which are licensed as payment institutions are supervised by Estonian Financial Supervision and Resolution Authority (the Regulator)
• Law on credit unions: Savings and Loan Association Act of 1 July 1999 with amendments of 9 July 2010
• CRDIV exemption status: yes
• Access to payment system: yes, through Baltic Shared Services, Ltd. All cus are shareholders of this company
• Deposit guarantees: own DGF scheme, no access to state DGF
• Debit/credit cards: no
• Services: consumer credit
• Tax regime: yes

EU Status
Member Country since 2004

• Capitol – Riga 633. 820 (2017) • Population – 1.942.248 (2017) • Total CU Sector Penetration rate – 0.91% (2018) • GDP – USD 15.684 (2017) • Human Development Index – 0.847, rank 41 (2018) Credit Unions Information (all data Dec 2019) • Number of credit unions: 35 • Number of members: 18.448 • Assets: USD 37.280.010 • Loans: USD 28.229.736 • Reserves: USD 3.216.893 • Shares: USD 4.413.396 • Apex (-s) details: Credit Union Association (KAA) , est. 2012, non profit, 7 credit unions total 2686 members, Latvian Co-operative Credit Union Association (LKKSS), est. 1991, cooperative, 27 credit unions, total 15 000 members Legislative Framework • Legal form: cooperative under cu law, regulated and supervised by the National Bank • Law on credit unions: yes • CRDIV exemption status: no but payment institution licence under Payment Services Directive II • Access to payment system: no • Deposit guarantees: yes • Debit/credit cards: no • Services: urban consumer credit (LKKSS) and rural agri lending (KAA) to individuals • Tax regime: yes EU Status EU Member country since 2004

• Capitol – Vilnius 574.147 (2018)
• Population – 2.828.40 (2017)
• Total CU Sector Penetration rate – 5.38% (2018)
• GDP – USD 16.809 (2017)
• Human Development Index – 0.858, rank 35 (2017)

Credit Unions Information (all data Dec 2019)
• Number of credit unions: 65
• Number of members: 161.255
• Assets: USD 1.079.347.258
• Loans: USD 712.808.787
• Reserves: 85.863.775
• Shares: USD 1.009.228.944
• Apex (-s) details: Lithuanian Central Credit Union (LCCU), est. 1994, 49 credit unions, 111 045 members, HQs in Kaunas, JCKU KREDA, est. in 2017, 11 credit unions 41 000 members, HQs in Vilnius. Both centrals operate under banking law, individual credit unions operate under CU law. Both centrals provide liquidity support for their cu members, accept deposits and extend loans to credit unions – cooperatives

Legislative Framework
• Credit unions legal form : cooperatives under cu law, regulated and supervised by the National Bank. Centrals under banking law
• Law on credit unions of 2018 (consolidation reform)
• CRDIV exemption status: centrals conform, credit unions exempted
• Access to payment system: yes (centrals)
• Deposit guarantees: yes
• Debit/credit cards: yes – Mastercard through a foreign bank
• Services: consumer credit, agrilending, SME lending
• Tax regime: yes

EU Status
EU Member Country since 2004

• Capitol – Chisinau 674.500 (2017) • Population – 3.550.000 (2017) • Total CU Sector Penetration rate – 4.7% • GDP – USD 2.290.23 (2017) • Human Development Index – 0.700, rank 112 Credit Unions Information (all data Dec 2019) • Number of credit unions: 235 • Number of members: 135.512 • Assets: USD 62.397.452 • Loans: USD 54.897.357 • Reserves: USD 19.321.895 • Shares: USD 35.890.777 • Apex (-s) details: CASCA – Central Association of Savings and Credit Associations has 136 credit unions as members, CUSCA – Central Savings and Loan Associations has 41 credit unions as members. Both Associations are in the merger process into one which must be completed by end December 2019 as per Law no. 259/2018 Legislative Framework • Legal form: cooperative under cu law, regulated and supervised by the National Commission for Financial Market • Law on credit unions no. 139 of 21 June 2017 • CRDIV exemption status: yes • Access to payment system: no • Deposit guarantees: no • Debit/credit cards: no • Services: consumer credit (CUSCA), agrilending (CASCA) • Tax regime: no corporate and income tax EU Status Association Membership since June 2014

• Capitol – Bucharest 1.836.000 (2017)
• Population – 19.640.000 (2017)
• Total CU Sector Penetration rate – 0.61%
• GDP – USD 10.819 (2017)
• Human Development Index – 0.811, rank 52

Credit Unions Information (all data Dec 2019)
• Number of credit unions: 24
• Number of members: 96.400
• Assets: USD 110.492.664
• Loans: USD 88.388.283
• Reserves: USD 12.240.788
• Shares: 97.711.588
• Apex (-s) details: FEDCAR – association (NGO) for advocacy and lobbying, no financial functions, OMENIA – an apex for pensioners credit unions (1.400.000 members) and UNCAR

Legislative Framework
• Legal form: cooperative under cu law, self regulated, no credit institution status. Legally overseen by Ministry of Public Finance
• Law on credit unions:
• CRDIV exemption status: no hence no formal deposits collection. Instead “social fund” account as equiv. to deposit account
• Access to payment system: no
• Deposit guarantees: no
• Debit/credit cards: no
• Services: consumer credit
• Tax regime: yes

EU Status
EU member country since 2007

• Capitol – Ankara 5.445. 000 (2018) • Population – 81.400.000 (2018) • Total CU Sector Penetration rate – 1.35% • GDP – USD 9.445 (2018) • Human Development Index – 0.791, rank 64 (2017) Unions Information (all data Dec 2019) • Number of credit unions: 1625 • Number of members: 809.725 • Assets: USD 4.908.669.843 • Loans: USD 1.465.128.590 • Reserves: USD 147.636.802 • Shares: USD 175.960.847 • Apex (-s) details: TARIM KREDI – Central Union of Agriculture Credit Cooperatives. Cooperative apex. Under banking law, fully commercial providing lease of agri equipment, production of chemical fertilizers, wholesale procurement of agri production of members, insurance broker. Re-distributing Government loan for agriculture development. Legislative Framework • Legal form: cooperative under cu law, regulated and supervised by the Ministry of Agriculture and Forestry • Law on credit unions: Law on credit unions no. 1581 of 1972 with amendments of 1985 • CRDIV exemption status: no • Access to payment system: yes – Tarim Kredi, no – credit unions • Deposit guarantees: no • Debit/credit cards: no • Services: agrilending, crop receipts, sale of fertilizers and chemicals EU Status Association Agreement since 1963 (Ankara Agreement) with later amendments

Sources:

GDP, population : World Bank
Human Development Index : UNDP ranking of 188 countries and territories, the highest index number the highest ranking. Norway ranks first and has 0.953 index number. USA ranks 13 and has 0.924 index.
Index/ranking is an algorithm for life expectancy at birth, expected years of schooling, mean years of schooling, GNI per capita
Credit unions statistics – WOCCU 2019 Statistical Report
Other data: own research