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Irreplaceable role confirmed
(Bankovnictví) - The financial crisis has shown that building savings not only benefits individuals but also the government. That is to say, it works in a countercyclical fashion, and when looking at the real data, it is clear that building savings had sustained the housing loan market at an acceptable level.
Building Savings in 2009 - Yearbook
The Association now publishes a regular publication that summarizes developments in the sector last year. Did you know that the building savings showed in comparison to the other credit products significantly more resistant to fluctuations in the economy? You can read more in our yearbook.
Czech building societies see Q1 loans volume up by 4 pct yr/yr
Czech building societies granted loans worth Kc14bn in Q1 this year, up 4 percent year-on-year, according to data from building societies CTK has obtained.
Vojtěch Lukáš ACSS Chairman Again
The next two years to lead the Association of Czech Building Saving Societies Vojtěch Lukáš, who is also a member of Stavební spořitelna České spořitelny. Defended its position in the elections, which were the first in April.
Czech building societies` lending 11 pct lower in 2009
Prague, Jan 21 (CTK) - Czech building societies provided Kc66.4bn worth of loans last year, which is a year-on-year decrease of over 11 percent, according to the building societies` results which CTK has at its disposal. Interest in new home-building savings contracts also weakened last year.
Building Saving and "Green for Efficiency" Subsidy Program Can Go Together!
Ten billion crowns for this year and fifteen billion for next year are allocated in the "Green for Efficiency" subsidy program for environmental investments, thermal insulation, installation of solar panels, and replacement of water boilers. We spoke to Michal Uryc from the State Environment Fund and asked him whether the subsidy can be combined with building saving.
Parliament Fails to Approve Use of Building Savings to Pay Tuition
The Lower House failed to pass a draft law that would allow money from building saving to be used to finance tuition at high schools and universities. The Lower House was two votes short to outvote a previous rejection of the law by the Senate.
Czech Republic Remains Second Most Successful Country in Building Saving
Prague/Brussels, 29 April 2009 - The Czech Republic remains the second most successful country as regards the number of building saving contracts. According to data from the European Association of Building Saving Banks (EuBV), Germany comes first with 30.5 million building saving contracts, followed by the Czech Republic whose five building saving banks have signed more than five million contracts, and Austria just behind with some 35 thousand fewer contracts.
ACSS Advises: Home-Building Savings Contracts Not Expiring
ACSS advises: Home-building savings contracts signed in 2003 remain in full force and effect regardless of the expiration of the five-year saving phase. All contracts are still valid, and clients can still continue to save if they have the space available within their target amount. They can also request a loan, either a bridging loan, or a building savings loan.
CLIENTS OF BUSINESS SAVINGS BANKS WON´T BE AFFECTED BY THE CRISIS
Despite the current crisis, savings that clients have with building savings banks are safe. Building savings is one of the safest ways to save which isn´t dependent on the developments in the rest of the market. This is also due to the fact that there is state support provided to building savings banks which is one of the reasons that building savings loan interest rates are amongst the lowest long term. Building savings also contributes to the overall immunity of the domestic economy to negative effects from foreign markets. More information can be found in the response by Vojtěch Lukáš, the Chairman of ACCS.
Vitejte na www.acss.cz
We are your adviser in the world of building savings.
The Association of Czech Building Societies in the Czech Republic (ACSS) comprises five building savings banks. It was founded on June 29, 2000, with the aim of supporting the joint interests of the building savings banks operating in the Czech Republic. It thus continued a long-term informal co-operation among the financial institutions.
You can get more information about the ACSS here.
NOT TO OMIT
ACSS advises: Home-building savings contracts signed in 2003 remain in full force and effect regardless of the expiration of the five-year saving phase. You can read more here.