We specialize in the formation of Credit Unions and other entities authorized to offer financial services to customers worldwide.

A Credit Union can legally offer services typically offered by a fully licensed bank, such as taking deposits and making loans as long as services are offered to members of the Credit Union only. The type of Credit Union we offer is registered in Sweden, a full member of the European Union. The entity can have up to 1000 members and be exempt from bank license requirements. Members can be of any nationality and reside anywhere in the world. The board of directors (minimum 3 directors) may be of any nationality, although 50% or more should have an address within the European Union. We can also offer nominee directors if required.

The Credit Union can offer deposits repayable to the customer by order, such as checking accounts and instant access savings accounts as well as fixed term deposits (or Certificates of Deposit) repayable at maturity. The name of a Credit Union cannot include the word "bank", but names including words such as "Credit Union", "Savings & Loan", "Trust" , "Sparkasse" , "Caja de Ahorro" , "Building Society" etc are all allowed.

The Credit Union is not a suitable entity for offering any type of financial service to the general public. The members should belong to a private closed group with a common interest. If services are offered to the general public the CU would be required to register with the Swedish Financial Services Authority, FinansInspektionen (FI) in accordance with the Deposit Taking Act. The said Act limits the allowed deposit per customer to a maximum of SEK 50,000.00 (approximately USD 7,000.00). A CU registered with FI would not be attractive for most of our clients, which is why we always recommend that the CU is not subjected to the requirements in the Deposit Taking Act by accepting deposits from the general public.

Please contact us if you are looking for an entity with fewer limitations and with the possibility to offer services to the general public. We have solutions in different jurisdictions depending on your specific needs.

We can offer a comprehensive Credit Union formation package including:

CU registration certificates and bylaws in Swedish and English
All registration documents are legalized with apostille

Certificate of authorized activities
This document certifies the exemption from bank license requirement

Wire transfer clearing facilities
Online wire transfers in major currencies such as EUR and USD

Debit card issuing
Generic or private label card programs available

Online banking software
Offer online banking to your customers in a secure environment.

You are welcome to review our banking software and to request access to the online demo at www.NexorOne.com.

You can also choose to acquire a Credit Union without features such as card issuing and online banking. Please contact us for full information and itemized pricing.

Our experience
We provide the knowledge needed to ensure that your Credit Union not only gets legally formed and registered, but that it will also be operational with essentials such as wire transfer clearing facilities, online banking and card issuing. We run our own international debit card program and we know how to obtain approval for new private label programs on the major networks.

We have our own in-house IT team offering full support for your online banking systems. We offer secure offshore hosting solutions as well as web design, logo design and any other services you might require for your Credit Union. We have formed financial entities in various offshore centers as well as in Sweden for over 10 years. We also run our own Swedish Credit Union and we are happy to share our experience with you. If you are looking for professional service and support not only before and during formation of your Credit Union, but also after your institution is up and running, we are always here to help.

Although a personal visit with us is not required to establish your Credit Union, you are of course always welcome to visit our offices. We would be more than happy to give you a live demonstration of the card programs, online banking software and other features of the Credit Union package. Please contact us to make an appointment.