Law on Credit Unions

Mexico

(enacted in 2008)

The Law on Credit Unions (Ley de Uniones de Crédito) was drafted to formalize the operations of credit unions in Mexico, traditionally another source of credit for low and middle-income people.

The law is organized as follows:

  • Title One General Provisions and Definitions;
  • Title Two Organization and Administration of Credit Unions;
    • Includes provisions for capital, shares, governance, merger, and incorporation as limited companies with variable capital;
  • Title Three Permitted Operations, Prudential Regulation, Special Rules:
    • Includes prudential regulations to be further defined by the National Banking and Securities Commission (CNBV), including net capital and diversification measures;
  • Title Four Accounting, Inspection, and Supervision;
  • Title Five Powers of the Authorities, Corrective Measures, Liquidation; and
  • Title Six Prohibitions, Infractions, Criminal Offenses, and Notifications.