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Corporate governance and security

The Savings and Loan Association, as well as its investment portfolio, is strictly regulated by several Regulation Acts in Estonia, which provides its members with high level security.

Regarding the § 27 of the Guarantee of Financial Soundness of Savings and Loan Association within the Savings and Loan Associations Act:

  • (1) In its activities a savings and loan association shall adhere to any and all of the following requirements:
    • 1) the savings and loan association shall invest at least 5 percent of the total amount of the deposits of its members in an Estonian credit institution or a credit institution of another contracting state in the form of a call deposit;
    • 2) the savings and loan association may acquire only immovable property necessary for the principal and permanent activity of the association;
    • 3) the savings and loan association is forbidden to participate as a partner in a general partnership or as a general partner in a limited partnership;
    • 4) the total investment by the savings and loan association in fixed assets, including in financial fixed assets, shall not exceed the equity capital of the savings and loan association;
    • 5) the total on-balance-sheet receivables from clients and the total off-balance-sheet payables of the savings and loan association shall not exceed tenfold of the equity capital of the savings and loan association.
  • (2) The provisions of clause 2) of subsection (1) of this section shall not apply if the savings and loan association has acquired the immovable for the purpose of preventing or avoiding losses and the savings and loan association has transferred the immovable within three years.
  • (3) A savings and loan association shall not make payouts from net profit if the provisions of clause 1) of subsection (1) of this section have not been followed for the period of three months during the financial year or if the annual report of the savings and loan association approved at the end of the last financial year shows that the equity capital of the savings and loan association would fall below the level provided for in subsection 22 (3) of this Act.

Please learn more about the relevant legal regulations here.

Clients should note that Intus deposit accounts are not covered by any statutory protection.

Strict loan granting policy

  • Intus assets consist mainly of the cash we hold on our bank accounts and the loan receivables we have from our members.
  • We grant loans in a very strict and selective manner. We carefully go through each loan application to make sure that the applicant has a good credit history, no outstanding liabilities and a high enough permanent income.
  • We are in a partnership with a professional debt collection agency to speed up the payments of our overdued receivables and to minimize the credit losses.
  • According to the law, the maximum loan amount available to each member is 20 times the individual member’s investment into Intus share capital.

Constant control

  • Our accounts are subject to controls by our Internal Audit Committee.
  • We are also controlled by a professional external auditor who checks Intus activities and accounts in general.

Transparency

  • We publish financial reports annually on our webpage.
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