State aid: Commission approves new prolongation of Polish credit union liquidation scheme | EU Commission Press

The European Commission has authorised, under EU State aid rules, the ninth prolongation of the Polish credit union liquidation scheme until 15 July 2020. The measure will continue to be available for credit unions that are member-owned entities and provide loans, savings accounts and payment services only to their membership. Credit unions fall outside the scope of the bank resolution regime in Poland. The Commission found the prolongation of the scheme to be in line with EU State aid rules, in particular its 2013 Banking Communication. This is because it is well targeted, proportionate and limited in time and scope. The scheme, initially approved in February 2014, has been prolonged several times since then, the last time in August 2018.