Kodumaa Kapital savings and loan association declared bankrupt
In mid-September the Harju District Court declared bankrupt a savings and loan association that stopped paying out depositors' money at the start of this year. Creditors must file claims by 15 November.
All years as a table
| Year | Revenue | Profit | Employees |
|---|---|---|---|
| 2023 | — | 8864 € | 8 |
| 2022 | — | 74 563 € | 9 |
| 2021 | — | 26 178 € | 4 |
| 2020 | — | 89 040 € | 3 |
| 2019 | — | 55 267 € | 3 |
ERR News reports that the Harju District Court declared the Kodumaa Kapital savings and loan association bankrupt in mid-September. The association stopped paying out money to depositors at the start of this year, and, according to Äripäev, blamed changes to the Savings and Loan Associations Act.
In February a letter was sent to depositors offering to exchange their claims for units in the Kodumaa Fund. The trust fund was presented as a solution that protects depositors' interests, helps grow members' money and avoids closing down operations. According to the letter, the loan portfolio of the Kodumaa group, meaning Kodumaa Kapital and Kodumaa Laenud, would have become the fund's assets.
Depositors went to court suspecting asset transfers, because the association had moved its main asset, a loan portfolio of about €2 million, into the new fund through a subsidiary.
The association's board currently includes Kiur Lootus and Pille Lõugas. Reform Party politician Tõnis Kõiv left the board in summer 2025; he had led the association since 2021 and, according to ERR, continues as an adviser.
Creditors must notify the bankruptcy trustee of all claims that arose before the bankruptcy at the latest by 15 November. Claims submitted later but recognised will be satisfied in the final order.
According to the business register, Kodumaa Kapitali HLÜ was established in 2015, and its public figures end with 2023, when the association had a profit of about €8,900 and eight employees.