: Bankruptcy of Kasa Wspólnota (a credit union of Poland)
Kasa Wspólnota is one of Polish SKOKs - credit unions. Last year they were included under supervision of KNF (Financial Supervision Authority) and deposits were insured in Bankowy Fundusz Gwarancyjny up to 100 000 eur. Now KNF has found out that Kasa Wspólnota has too many bad debts and cannot function any longer. On 18 July this SKOK filed for bankruptcy.
Cooperative Unions - Credit "Community" goes bankrupt. Is a model example of how over the years the National Credit unions under the current Law and Justice Senator Gregory Biereckiego " heal " the financial situation of Kas.
On Friday, the Financial Supervision Commission , which exercises supervision over Kasami today announced that attempts to heal the financial situation of the Community credit unions have failed . The activities of the Fund has been suspended , and soon the court will be filed for its bankruptcy . This is the first such decision in the history of the Co-operative Savings and Credit.
I don't remember when some bank bankrupted last time in Poland.