Credit unions Procedure for the establishment and registration of the credit union. 1. Creating a legal entity. The first step is to create a credit union is a constituent assembly. The credit union is created by a decision of the Constituent Assembly. The
number of founders (members) of the credit union can not be less than
50 people, who may be members of the credit union and united on at least
one of the following: 1) have a common place of work or study (For confirmation of this information in the Financial Services Commission to submit: -
Notarized copy of the state registration of the legal entity with which
the credit union was in labor relations at the introduction to the
credit union -
Or educational institution which provides services for the education
and training, and in which the credit union was enrolled under the law
when entering into a credit union) 2), or belong to a trade union, trade union associations, other social or religious organization (For confirmation of this information in the Financial Services Commission to submit: - Notarized copy of the certificate of state registration of the trade union, social or religious organization) 3), or living in the same village, town, city, region, area. Members
of the credit union can not be persons who are recognized by the court
as incapable or with disabilities, who are serving a sentence of
imprisonment, as well as persons with outstanding conviction for
acquisitive crime. Constituent Assembly on the following points: - Approved the charter of the credit union; - Elected by its government; - Authorizes a person to carry out the state registration; -
Deal with other issues related to the establishment of the Credit Union
(for example, the order is determined by the cost of registration of
the COP adopted the position of the formation of various funds, is
determined by the structure and policy of providing services, etc.). The
decision to establish a credit union registered in the minutes of the
constituent assembly, which is signed by the chairman and secretary of
the meeting. An integral part of the protocol is a register of the persons who participated in the Constituent Assembly (list of founders) The register must be indicated: - Full name of the person; -
Passport or document data that substitutes (for foreigners and
stateless persons permanently residing in Ukraine - data from a national
passport or its Agent); - Address and other information supporting the signs, which will unite the members of the credit union. Identification of the person certified by his own signature. 2. Including the information about the credit union in the register of financial institutions - to provide a financial institution. To the roster of financial institutions credit union must meet the following requirements: 1. Organizational
and legal form of a credit union shall be defined as a credit union, as
evidenced by a certificate of inclusion in EDRPOU. 2. The statutes must comply with the legislation, in particular the Law of Ukraine "On credit unions". 3. The controls of the credit union to be established in accordance with the Law of Ukraine "On credit unions". 4. Introductory and mandatory share contributions must be made by all the founders (members) of the credit union. 5. Internal
regulations, according to the list of internal regulations and
procedures of the credit union, approved by the Financial Services
Commission of 11.11.2003 № 116, the credit union must be approved in due
course. 6. Director and chief accountant of the credit union must meet professional requirements. 7. Software
and special technical equipment credit unions associated with the
provision of financial services, must comply with the software and a
special technical equipment credit union, approved by the Financial
Services Commission of 03.06.2005 № 4122. 8. The
credit union is required to have a separate area with limited access
and safe storage of money and documents, eliminating the abduction
(damage) necessary safety features, including an alarm system and / or
protection. 3. Obtaining licenses for Activities to attract contributions (deposits) of the credit union to deposit accounts; Of
the credit union to provide financial loans to the credit union by
borrowed funds, except contributions (deposits) of the credit union to
deposit accounts. The
activities of the credit union to provide financial loans through
credit union's capital and the means of the combined credit union by
credit union that is a member of, and means of joint financial assets
associations of credit unions, established by its members, does not
require a license. License
period 3 years, and when re-issue a license if the licensee during the
previous period of use of the license does not apply sanctions, - 5
years. If the licensee applied sanctions, re-license shall be issued for a period of 3 years.
Credit Union
