Estonian Union of Credit Cooperatives

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Estonia has developed a classical system of credit cooperatives since the beginning of 20th century. Soviet occupation cancelled that financial institution in 1940.
The first modern CC was established in 1990. It was Lääne CC in little city of Märjamaa. Majority of permanent CC-s did not survive because of their specific purpose of those days. Their main objective was to deliver the property of former collective farms to the members. Next real CC-s were established in 1992 in Viljandi County (Leie CC) and Tartu County (Kambja CC). The special Law on Credit Cooperatives was passed in 1999. The Estonian Union of Credit Cooperatives (EUCC) was founded also in 1999.
EUCC coordinates the activities of nine CC-s today.

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