There are about 50 pseudo-credit unions in Ukraine, president of the All-Ukrainian Association of Credit Unions Viktoria Volkovska told a press conference, ForUm correspondent reports.

According to the expert, most of them are even excluded from the state register of financial institutions, they are deprived of the right to provide financial services. However, cases of depositors left without money, are still not resolved," she said.

However, she added that now a special commission works to make up a register of defrauded investors.

President of the National Association of Credit Unions Petro Kozynets specified that out of 50 unions, 30% belong to the so-called pseudo-unions. According to the specialist, today among 600 credit unions existing in the country there are several dozens of pseudo-unions. "My personal opinion is that we have to solve this problem legislatively," Kozynets said.


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