Savings and loans associations

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.

The operations of savings and loans associations are regulated by the Deposit Business Act (2004:299). The act was repealed January 1, 2021 which means that only some savings associations who were registered before the repeal are permitted to conduct their operations. 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.


FI charges an annual supervision fee of SEK 25,000.

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.

Last reviewed: 2021-11-23