KommuneKredit is organised as an association, whose members are the local authorities which have loans or guarantees outstanding.


The members elect a Board of Directors to determine general policy and to approve major decisions. The Board of Directors has ten members of whom two are elected by the regions and six by the municipalities, and the Board of Directors elect two independent members. The term of office for the Board of Directors is four years. The Board of Directors normally meets four times a year.

Board of Directors

Management Board

KommuneKredit’s management board is headed by two managing directors, both of whom are appointed by the Board of Directors and one of whom is also Chief Executive Officer. The management board is authorised to make all decisions relating to the daily business.


The following are the members of the Management Board:


  • Mr. Jens Lundager, Chief Executive Officer and Managing Director
  • Mr. Henrik Andersen, Managing Director


As of 27 June 2019, the field of responsibility for the supervision of KommuneKredit changed from the Ministry for Economic Affairs and the Interior to the Ministry of Industry, Business and Financial Affairs. This is merely a change of the field of responsibility.


An auditor is appointed by the supervisory authority and is responsible for making sure that KommuneKredit operates within relevant legal and regulatory constraints applicable to KommuneKredit, in particular, that lending happens in accordance with the relevant rules applicable to municipalities and regions. Thorkil Juul, former Director General was appointed by the Ministry for Economic Affairs and the Interior as of 1 January 2018 and until the end of 2022.


The Board of Directors appoints one or two auditors who shall be state authorised public accountants. The auditors for 2021 were Deloitte Statsautoriseret Revisionspartnerselskab, represented by State Authorised Public Accountant Anders Oldau Gjelstrup and State Authorised Public Accountant Jens Ringbæk.