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News Now

CU System
Ukrainian parliament considering CU mortgage bill
KIEV, Ukraine (1/16/09)--Ukraine’s parliament passed a bill at the end of last year that amended laws regarding mortgage activity at credit unions. Bill No. 2256 involved the possible refinancing by credit unions of their activities on rendering mortgage credits, and allowed credit unions to be either founders or members of mortgage organizations, which have the right to raise mortgage assets (Interfax: Ukrainian General Newswire Dec. 17). The bill would help improve the effectiveness of the state over credit union activities, boost the quality of credit union activities, mitigate the risk of credit cooperation system [credit union] players, and increase citizens’ confidence in credit unions.


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