Lithuania Central CU Is First In Baltics To Offer Credit & Debit Cards

VILNIUS, Lithuania - Lithuania Central Credit Union has begun offering debit and credit cards for its affiliated credit unions, with plans to expand further into electronic banking in 2008. LCCU Chairman Sigitas Bubnys announced during a news conference on International Credit Union Day that the country's credit unions would become the first in the Baltics to offer payment cards. Currently, 27 credit unions are offering the Maestro debit cards and MasterCard credit cards and projections call for issuing 3,000 payment cards by Dec. 31, and 9,000 such cards by the end of 2008. By 2010, Bubnys said as many as 23,000 cards will be in circulation, including 17,000 debit cards. (c) 2007 The Credit Union Journal and SourceMedia, Inc. All Rights Reserved. http://www.cujournal.com http://www.sourcemedia.com