Archive Links

Consumer Archive
CU System Archive
Market Archive
Products Archive
Washington Archive

News Now

CU System
Dutch entrepreneurs form CUs in bank credit crunch
AMERSFOORT, Netherlands (8/9/12)--Shunned by banks, Dutch entrepreneurs are planning to set up "credit unions" to obtain loans, a Dutch newspaper reported on Wednesday.

The first credit union in the Netherlands will begin operation in September under the name Midden-Nederland, according to the Financieele Dagblad.

The financial organization was formed when a group of entrepreneurs shared a mutual frustration: a lack of credit from banks. Members of the credit union include a removal company, a pensions advice agency and a wine wholesaler.

Members who apply for a loan will be subjected to a rigorous approval process. Start-ups that receive funds will be assigned a coach--a member of the credit union who is experienced in business or finance.

Plans also are in the works for other credit unions, the Financieele Dagblad said.


RSS print
News Now LiveWire
September is National Preparedness Month. Read how your CU can get ready in #NewsNow #NPM @AgilityRecovery @Readygov
14 hours ago
Bay Area #creditunions featured in @SFBusinessTimes article http://t.co/SE7W81Ulia
17 hours ago
#NewsNow: 8 CU advisory board, new senior leaders named at @CFPB. http://t.co/EPKgHEDRRN
18 hours ago
#NewsNow: @FTC warns of government impostor scams. http://t.co/MMWBOcrqwJ
19 hours ago
Registration open for @CUNAMutualGroup's Discovery Conference #NewNow http://t.co/CATF0j9ct1
19 hours ago