Published: 26.11.2022

In accordance with the Deposit Guarantee Law, any client of a credit union, whether a natural person or a legal entity, is entitled for the disbursement of compensation for all types of deposits in all currencies up to 100 000 euro in each credit union.

In accordance with Section 3 of the Deposit Guarantee Law, depositors may receive the guaranteed compensation within five years from the day when the unavailability of deposits at the credit union. After that period, depositors who are eligible for the guaranteed compensation but have not received it shall lose their right to receive the guaranteed compensation.

In order to receive the guaranteed compensation, depositors shall appear in person at Latvijas Banka upon a prior appointment and, by presenting a passport or a personal identification document (ID card), submit an application for the disbursement of the guaranteed compensation indicating the account number of the depositor in a chosen credit institution or financial institution. A natural person representing a depositor of a credit union – a legal entity must submit documents confirming the representation of the legal entity.

Credit unions whose depositors are entitled to apply for the guaranteed compensation

LABA Kooperatīvā krājaizdevu sabiedrība

14 July 2020 the unavailability of deposits has occurred with LABA Kooperatīvā krājaizdevu sabiedrība.

In accordance with Section 3, Paragraph four of the Deposit Guarantee Law, those depositors of this credit union who are eligible for the guaranteed compensation, but who will not apply for its receipt until 13 July 2025, will lose their right of claim against the Deposit Guarantee Fund of Latvia concerning the disbursement of the guaranteed compensation on 14 July 2025.

TIRZAS KOOPERATĪVĀ KRĀJAIZDEVU SABIEDRĪBA

14 September 2022 the unavailability of deposits has occurred at TIRZAS KOOPERATĪVĀ KRĀJAIZDEVU SABIEDRĪBA.

Pursuant to the provisions of Section 3, Paragraph four of the Deposit Guarantee Law, the depositors of TIRZAS KOOPERATĪVĀ KRĀJAIZDEVU SABIEDRĪBA who are eligible for the guaranteed compensation, but who will not apply for it by 13 September 2027, will lose their right of claim against the Deposit Guarantee Fund of Latvia concerning the disbursement of the guaranteed compensation on 14 September 2027.