Credit union

The Lithuanian parliament is to consider a bill allowing mergers of credit unions. The Bank of Lithuania says the measure would improve the credit unions' viability and introduce new players in the country's financial market.

Assets of 63 credit unions that are members of the Lithuanian Central Credit Union (LCKU) amounted to LTL 1.37 billion (EUR 397 million) by the end of the first half of 2014. The figure is 6.4 percent bigger compared with the first half of 2013 when it stood at LTL 1.29 billion (EUR 373 million).