Western Credit Group

Credit Union ‘Western’ - Financial help!


Credit Union ‘Western’ is a non-profit organization founded by natural persons based on cooperative principles for the purpose of meeting loan needs of its participants in mutual crediting.   


Goal and tasks

Our goal is to save and increase savings of the union members, improve well being of Bukovyna people by financing their purchases, paying education fees, improving housing conditions, starting and running small businesses.

We see our task as professional efficient management of funds trusted to us in the interests of both lenders and borrowers.



Principles of our activity:

  • ·       Free-will joining and withdrawal from the credit union
  • ·       Equality of all union members
  • ·       Confidentiality
  • ·       Individual approach
  • ·       Quick performance
  • ·       Efficiency and reliability




  • 20 October 2008 – Credit Union ‘Western’ was established according to the resolution of the founders’ meeting, Minutes No 1.
  • 22 October 2008 – the union was registered as a legal entity, Reg. Certificate No A01 175448.
  • 8 September 2011 – The union was registered as a financial establishment, License KC No 940, pursuant to Resolution No 572 by National Committee regulating the market of financial services   
  • 20 June 2013 – Credit Union ‘Western’ became member of the Ukrainian Association of Credit Unions.


Legal status (under Ukraine’s law)

The credit union is a legal entity, has independent balance, bank accounts which are opened by the company in banks deemed appropriate and used pursuant to law; the company also has a seal, stamp, letterheads, symbols.


In order to achieve the goals set the union does the following:

  • ·       accepts entry fees, compulsory share contributions and other contributions from the union members
  • ·       provides loans, in cash and non-cash, to the union members under terms that they will be paid back, are limited in terms and guaranteed. Loans can be also offered to farms and  businesses owned by union members.




Share contributions

Credit Union ‘Western’ accepts money in national currency from individuals as share contributions from union members.


Investment of funds with Credit Union ‘Western’ shall prove:

·       reliability: the union management are experts in banking, law and education;

·       appealing interest rates;

·       free debiting and crediting of share contributions, which make its conditions equal to a line of deposit offered by banks;

·       interests are accrued on a quarterly basis that increase the annual rate 


Profitability of share contributions is estimated at 24% annual.



Credit Union ‘Western’ offers cash loans for different purposes on advantageous terms.


Currently, the credit union offers loans for the following purposes:

  • ·       law and education;purchasing of various goods;
  • ·       construction, renovation and reconstruction of housing;
  • ·       recreation and leisure;
  • ·       education;


Terms and conditions of loans:

  • ·       Individual approach (flexibility, creativity);
  • ·       Loan amount from 1,000 UAH;
  • ·       Loans are offered in national currency only;
  • ·       Loan timeframe of up to 18 months;
  • ·       Loan may be paid-off ahead of schedule with no penalty;
  • ·       Interests are accrued on the balance of loan amount 
  • ·       Loan may be paid in cash or into union bank account.


Market value of the property pledged must be 50% over the loan amount. Number of guarantors depends on loan amount, incomes and family of the borrower.


You are welcome to contact us if you have any questions regarding types, terms and conditions of loans.



Main str., 89, room 101, Chernivtsi, Ukraine 58000 

tel.: +(38050) 376 06 06

fax.: +(380372) 55 36 27  

e-mail: info@wcu.com.ua