credit union Want to be banks

In early May, the Parliamentary Committee on Finance and Banking intends to examine the government filed a bill that changes the terms of the credit unions. For them, going to significantly expand the field of activity. And if the document will be accepted in its current version, the COP can make real competition to banks credit union .

Perhaps one of the main innovations of the bill - providing the Financial Services Commission to influence the careless credit unions. "Now they have the status of non-profit organizations. And according to the law "On Financial Services and State Regulation of Financial Markets," we can apply penalties only for entrepreneurs ", - explained the problem head of the Financial Services Commission Valeriy Aleshin. It is this conflict is resolved: the regulator will be able to impose sanctions on economic entities under its jurisdiction.

Along with stricter supervision COP document provides them with a range of new possibilities. Such as the foundation of co-operative banks, specialized mortgage institutions and credit bureaus, and the implementation of factoring transactions and money transfers. In addition, credit unions, according to the provisions of the bill, will have the right to issue credit cards. Interviewees "DS" the most important leaders of the COP consider stipulated in the bill right of participation of legal entities (the current rules of the credit union may only be natural persons). "The world practice these alliances work primarily with small businesses and farms. And for us it is a question of principle - to get a legislative opportunity to work with small businesses, "- explains the president of the National Association of Credit Unions of Ukraine Peter Kozinets. So far, the COP could circumvent restrictions on lending to entrepreneurs - to get a loan, they became members of the union as individuals credit union .

The only obstacle on issuing large loans had specific restrictions on liens (COP may lend mortgages and property of citizens). Now, in accordance with the provisions of the bill, the COP is allowed to take a pledge and another land, which will enable farmers to obtain loans from the unions. Particularly relevant right lending to private entrepreneurs may be in the current environment, when in connection with the aggravated resource deficit banks were increasingly refusing to grant loans and give almost no money on the security of land. Credit unions are willing to lend funds of enterprises, banks have been denied, however, at higher interest rates - today the average rate on loans in local currency from them at 27% per annum (the banks 16-18%). Now, on conviction of their representatives, they have no shortage of resources. "COP attract money at high interest rates on deposits, thereby receive additional credit resources", - says CEO of the All-Ukrainian Association of Credit Unions Natalia Ilyin. Average rate on deposits in the CC is 18-20% annually in local currency. A good earnings it provides consumer loans: small-caliber loans that they apply directly to retail outlets, can cost up to 120% per annum credit union .