Small to medium-sized businesses in the Netherlands are being refused financing by banks, and they are turning to the country’s nascent credit union movement for member business loans. The problem is that few, if any, credit unions are currently licensed, creating significant economic void in helping the European Union member country grow its economy. Despite the lack of member institutions, however, two credit union trade groups are working with the country’s political and economic leaders to urge credit union formation and licensure solely for business lending purposes.

CU Times 040314