Members

Who can become a member?

Every individual who is a permanent resident or owns an immovable in the Republic of Estonia can become a member of Tartu Credit Union. In addition, all legal persons located in Estonia, except for  local government entities, can also become our members.

Why is it useful to become a member? 

• You will have the opportunity to use all the services provided by the Credit Union.
• You will have the opportunity to receive a share of the profits as you are one of the owners of the Credit Union.
• You will have the opportunity to determine the course of action of the Credit Union on general meetings.

How can I become a member?

In order to become a member of our union, please visit our offices in Tartu or in Tallinn or submit your application online. More information on the location of the offices can be found here.

Becoming a member via the Internet:

1. Fill in the application form, add your digital signature and send it to the Management Board of Tartu Credit Union by using our e-mail info@yhistupank.ee.
2. Pay the entrance fee of 10 € and the minimum share capital of 35 € to our bank account 10220064778012 in SEB or 221034015895 in Swedbank. In case of the entrance fee, please mark ‘entrance fee’ as the payment explanation; in case of the contribution, please mark ‘contribution to share capital’ instead.
3. The Management Board looks through the application and, having approved it, the person obtains the status of an associated member. From this point on, the person has the right to use all the services provided by the Credit Union.
4. Having approved the application, the Management Board forwards it to the Supervisory Board.
5. Having received an approval from the Supervisory Board as well, the person becomes a full member of the Credit Union and has the right to vote in general meetings.
6. As the last step, a membership card is issued to the new member.

Savings and Loan Associations Act and becoming a member

The following persons may become members of a savings and loan association (credit union):

1. natural persons who reside permanently or own immovable property within the territory in which the savings and loan association operates;
   
2. legal persons in private law whose seats are located within the territory in which the savings and loan association operates.
   

(Savings and Loan Associations Act §17 subsection 1)

Territory in which a savings and loan association operates

The territory in which a savings and loan association operates is the administrative territory of one local government or several bordering local governments (Savings and Loan Associations Act §5 subsection 1). (viide seadusele, siis peaks olema ka tekst muutmata kujul)  Tartu Credit Union uses the latter alternative to the norm and, according to its articles of association, considers all local governments in Estonia – for the reason that they all border each other – to be the territory in which the Union operates. The Bank of Estonia also referred to the possibility of such an interpretation of the clause in its comments on the draft Amendment Acts of the Savings and Loan Associations Act and the Credit Institutions Act. Therefore, all natural persons residing permanently or owning immovable property in Estonia as well as all legal persons whose location is registered in Estonia can be the members of Tartu Credit Union.