Lithuanian Central Credit Union (LCCU), which unites the largest credit union network in the Baltic States, is launching the second tranche of its subordinated bond programme. From 11 to 26 June, investors in Lithuania, Latvia and Estonia will be offered bonds with a total value of up to EUR 4 million and an annual yield of 8.25%.
The bonds are being offered under a subordinated bond programme with a total size of up to EUR 8 million (ISIN: LT0000136228). The minimum investment amount is EUR 1,002.93. The bonds have a term of 9.5 years (maturity 2035.12.17). Subject to approval from the Bank of Lithuania, LCCU will have the right to redeem the bonds after five years. The offering is organised and managed by the investment services company Orion Securities.
“The results of the first offering stage demonstrated that investors appreciated both our financial performance and the credit union system that has been consistently built over nearly three decades. We are launching the second stage backed by the confidence of the capital market and while delivering the strongest operating results in the history of our group,” says Mindaugas Vijūnas, Chief Executive Officer and Chairman of the Board of LCCU.
During the first tranche of the bond offering, investor demand exceeded supply by more than EUR 1.5 million. Applications worth more than EUR 5.5 million were submitted, while bonds worth up to EUR 4 million were offered. In May this year, the bonds were admitted to trading on the Nasdaq Baltic First North market.
All funds raised throughout the programme will be used to further strengthen the group’s capital base, enabling credit unions to provide even more financing to households, businesses and farms across Lithuania.
“We aim to grow while maintaining high standards of capital adequacy, liquidity and risk management, and to strengthen a local financial system where all key decisions are made in Lithuania,” says M. Vijūnas.
More information about the offering.
The Largest Credit Union Group in the Baltic States
LCCU is the first and largest central credit union in Lithuania. It unites 44 credit unions operating under the common LKU Credit Union Group brand and coordinates the majority of the country’s credit union sector. The LKU Group is the largest credit union group in the Baltic States.
Having grown steadily for nearly 30 years, the group today serves more than 130,000 retail and business customers throughout Lithuania. The LKU Group operates a network of more than 100 customer service locations, making credit unions one of the broadest locally owned financial networks in the country.
At the end of the first quarter of 2026, the LKU Credit Union Group’s total assets amounted to EUR 1.27 billion, while its gross loan portfolio exceeded EUR 1 billion for the first time in history (EUR 984 million on a net basis). Over the year, the loan portfolio grew by nearly 19%, while the group’s net profit increased by almost 80% to EUR 3.29 million.
“Over recent years, we have consistently strengthened our capital base, expanded lending volumes and invested in risk management systems. Today we can clearly see the results of these efforts: a rapidly growing loan portfolio, record levels of activity and a strengthening position in Lithuania’s financial market,” says M. Vijūnas.
Confidence of Experienced Investors
During the first bond offering stage, more than 81% of the funds raised came from institutional investors and experienced retail investors making investments of EUR 10,000 or more.
“The composition of demand during the first stage was just as important as its size. A significant share came from professional and experienced investors who make investment decisions based on capital adequacy, the sustainability of the business model, risk management and financial performance. This represents a strong signal of market confidence,” says Matas Čipkus, Debt Capital Markets Projects Manager at Orion Securities.
Record Growth and Conservative Risk Management
This year, the LKU Credit Union Group is demonstrating some of the strongest performance indicators in its history. The group’s deposit portfolio exceeds EUR 1.1 billion, while its capital has increased by more than 17% year-on-year to EUR 105 million.
More than 80% of the group’s loans are classified as low risk. The largest single loan exposure accounts for less than 1% of the total loan portfolio, which remains well diversified across different sectors of the economy.
LCCU is supervised by the Bank of Lithuania, and its capital and liquidity requirements are equivalent to those applied to banks. According to the latest data, LCCU’s capital adequacy ratio stands at 19.47%, compared to a minimum regulatory requirement of 13.92%.
In lending activities, LCCU also cooperates with international financial institutions. The organisation has secured EUR 4 million in financing from the Council of Europe Development Bank. In addition, subordinated loans amounting to EUR 5.5 million have been attracted from the European Investment Fund (EIF) to further strengthen its capital base.
Subordinated bonds qualify as Tier 2 capital. In the event of insolvency, claims of subordinated bondholders would rank after those of other creditors.
Investor Presentation
Investors are invited to join the online bond offering presentation:
- Presentation in English: 17 June 2026 at 11:00 a.m. Registration link.
How to Invest
To invest, please leave your contact details via this form and an Orion Securities investment adviser will contact you. Alternatively, you may send an email to [email protected].
If you already hold a securities account with another brokerage firm or bank, you may also submit your investment order through that institution.
Orion Securities recommends consulting your financial adviser before making an investment decision and carefully assessing all risks and other material circumstances related to investments in securities (bonds).
Atgal 
