Social Insurance has said it suspended transfers of pension benefit to credit unions Poland in Warsaw. Persons who have been there the bill should give ZUS new account number.
Formal bankruptcy lived to see the far three credit unions.
The last one is a medium-sized credit unions Kujawiak (18 thousand. Members and 190 million zł deposits), and so much less “company” than previously bankrupted CU Community (70 thousand. members and 900 million zł deposits) and credit unions Wołomin (80 thous. clients and even 2.7 billion zł deposits). On the way to the scaffold is another cash – credit unions Poland. Financial Supervision Commission is submitting an application for its bankruptcy (18 thousand. Members and nearly 180 million zł deposits). All four of them in total is 188 thousand. clients and had 4.08 billion zł deposits.
The next four credit unions were taken over by banks. Alior Bank took over the unions. St. John of Kety (20 thousand. Members and 100 million zł deposits) and the credit unions. Stefan Wyszynski from Wrzesnia (34 thousand. Members and 180 million zł deposits), Bank Pekao took on the chest pretty big unions Copernicus (127 thousand. Members and 440 million zł deposits), while PKO BP absorbed unions Cheerful (63 thous. Members, 624 million zł deposits).
this means that the “bank” part of the rescue operation in the system of credit unions concerned so far nearly 250 thousand. members and nearly 1.4 billion zł deposits. Liquidation or takeover by the banks already lived to see the credit unions, in which 450 thousand. members held 5.5 billion zł.
Looking at the statistics system, credit unions, you may be wondering what form he is able to survive the “cleaning up” after 20 years of “peer supervision” exercised by a team of Gregory Biereckiego (architect system of credit unions, today Senator PiS, co-owner of media such as a station in the network and wpolityce.pl, known among the accusations of derivation money to Luxembourg – the investigation in this case was the prosecutor changed in recent weeks redeemed).
Cleaning the team Biereckiego …
the KNF statistics show that after the bankruptcies and acquisitions of cash by banks number of members of credit unions s in the last year (from September to September) decreased by 400 thousand. people – there are now less than 2.1 million. While until recently credit unions have a network of more than the largest banks, today already it looks less and less impressive – during the year, the number of branches serving customers fell by KNF data from nearly 1800 below 1500.
Value granted by credit unions and loan portfolios for a year has shrunk from more than 10.3 billion zł to 6.6 billion zł, and the value of deposits – from 16.1 billion zł for a little more than 11.5 billion zł. This all means that the bankruptcies and acquisitions weakest financial system of credit unions fell by 10-20 per cent. In terms of coverage (number of customers and institutions) and one quarter in terms of scale of the action. Just to be clear – the credit unions do not see an exodus of members, their number decreased by 400 thousand., But from members of acquired or bankrupt banks is some 390 000, and therefore the overwhelming majority. Nevertheless, the fact is that the system is shrinking.
… going to take
Sorry, still does not look like that “cleaning” was closer to the end. According to the Financial Supervision Authority at the end of September last year, the surviving credit unions still remained to be filled worth 630 million zł deficit of own funds. This money is required by the regulator, that the system can operate stably and have a capital adequacy ratio of at least 5 percent. (It would still only one-third of the solvency ratio reported by banks). These 630 million zł should pay extra or shareholders (members of credit unions), or should it go the profits generated by individual credit unions. The problem is that there are no profits. From the last quarterly report published by the Polish Financial Supervision Authority it shows that at the end of September last year, the financial result of the credit unions is minus 650 million zł. Yes, half a year before it was even worse, because almost 720 million zł losses, but the situation still is not easy. The unions not only sticking the gaps in equity, but still it deepens, generating further losses.
Of course, not all credit unions have insufficient capital. According to the surveillance quarter operating credit unions it has a capital adequacy ratio above the critical level of 5 per cent., Which means that credit unions are able to conduct safe operations. And for the next half of the cash situation is not rosy, although the capital adequacy ratio is still positive.
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