| Abstract [eng] |
The master graduation paper analyses the systemic development of Lithuanian credit unions. There are different models of cooperatives governance systems in the world. A cooperative movement in each country chooses its own way of development and success. Lithuanian credit unions started their activities in 1995 with a strong know-how support form Desjardins credit unions movement (Quebec). Following the example of Desjardins movement Lithuanian Central Credit Union (LCCU) was established at the end of 2002. The establishment of LCCU put the grounds for a two-tier credit unions system in Lithuania and enabled to develop and expand activities of credit unions in Lithuania. After some years of LCCU activity credit unions leaders began to discuss, whether the model of Lithuanian Central Credit Union is appropriate to credit unions needs. The same development issues are discussed by foreign scientists and practitioners all over the world. The purpose of the graduation paper is to find out what governance structure of Lithuanian credit unions system will correspond to the most of credit unions needs and to evaluate if this structure will let to stay competitive in the Lithuanian financial market. The object of the research is the systems of credit unions and other cooperative financial institutions in Lithuania and other foreign countries. The hypothesis of the research: the system of Lithuanian credit unions in a long term perspective will grow into financially strong financial group, which will have a significant market share in Lithuania. In order to approve or reject research hypothesis, empirical research with managers of LCCU member credit unions from October, 2006 until April, 2007 was carried out. The main conclusion of the empiric research is that the most of credit unions managers are intended to stay at the level of the consensual credit unions network (according to M. Desrochers and K.P. Fischer classification (2003)). Therefore the research hypothesis may be approved only with a condition, that processes of centralization and integration within the network of Lithuanian credit unions will be intensified and carried out successfully. The main literature sources used in the master graduation paper were scientific literature, publications from the conferences, Lithuanian and foreign legal acts, information from Lithuanian Central Credit Union and information from the internet pages of foreign credit unions. The paper contains 72 pages, 14 tables and 26 pictures. |
