Savings and loans associations

A savings and loans association must apply for registration with FI.

A savings and loan association (savings association) is an economic association that

  • at any point in time has at the most 1,000 natural persons as members
  • as members only accepts persons who in advance are part of an identifiable group and this group is identified in the by-laws
  • receives repayable funds only from members or financial institutions
  • has as its purpose to fulfil the funding needs of its members only using the funds set out in the previous point.

A savings and loans association must apply for registration in accordance with the Deposit Business Act (2004:299). Funds placed with a company which conducts deposit operations are not covered by the deposit guarantee. Deposit institutions are allowed to receive a maximum of SEK 50,000 per consumer.

Deposit institutions are not subject to FI's supervision, but FI conducts controls of capital requirements, owners and management and that there is at least one authorised or approved auditor in the association. Changes in management or owners should be reported to FI.


An application fee of SEK 46,000 must be paid to FI. See the fact box for payment information. FI also charges an annual supervision fee of SEK 25,000.

Handling time

FI will make a decision within 90 days provided that the application is complete and the fee is paid.

Contents of the application

The application must be signed by an authorised representative for the association and contain

  • a detailed description of how the business will be conducted, which also shows that the business subject to an authorisation obligation in accordance with the Banking and Financing Business Act (2004:297) will not be conducted.
  • the association's by-laws (should be registered with the Swedish Companies Registration Office) in which the operational description states that the association is such an association as described above
  • name, address and personal identification number for the company's board members, alternate board members, managing director and deputy managing director
  • name, address and personal ID number or CIN for persons holding a qualifying share in the association
  • name, address and personal ID number for board members, alternate board members, the managing director and the deputy managing director of undertakings holding a qualifying share in the deposit institution
  • minutes or other document from the general meeting indicating that the association has an authorised auditor and that the association does not have auditors who are not approved or authorised

Other information

The Deposit Business Act does not apply to deposit operations for which a prospectus must be prepared in accordance with the Financial Instruments Trading Act (1991:980) or corresponding foreign regulations.

Payment procedure

  • FI registers the application, which is assigned a reference number.
  • FI then sends an administrator letter, which specifies the reference number, the applicable fee and instructions for how to pay the fee.

Do not pay the fee until you have received the administrator letter and reference number from FI.

Last reviewed: 2020-01-03
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