included The Co-operative Bank.

[10] It still retains an insurance provider, The Co-operative

Insurance, noted for promoting ethical investment.

European Co-operative Banking: Facts and figures 2017. Based on the 2017 Key statistics collected by
the EACB

Continental Europe[edit]
Important continental cooperative banking systems include the Crédit Agricole, Crédit
Mutuel, Banque Populaire and Caisse d'épargne in France, Rabobank in the Netherlands, BVR/DZ
Bank in Germany, Banco Popolare, UBI Banca in Italy, Migros and Coop Bank in Switzerland, and
the Raiffeisen system in several countries in central and eastern Europe. The cooperative banks that
are members of the European Association of Co-operative Banks have 130 million customers, 4
trillion euros in assets, and 17% of Europe's deposits. The International Confederation of
Cooperative Banks (CIBP) is the oldest association of cooperative banks at international level.
In Scandinavia, there is a clear distinction between mutual savings banks (Sparbank) and true credit
unions (Andelsbank).
United States[edit]
Credit unions in the United States had 96.3 million members in 2013 and assets of $1.06
trillion.[11][12] The sector had five times lower failure rate than other banks during the financial crisis of
2007-2008[2] and more than doubled lending to small businesses between 2008 - 2016, from $30
billion to $60 billion, while lending to small businesses overall during the same period declined by
around $100 billion.[3] Public trust in credit unions stands at 60%, compared to 30% for big
banks[4] and small businesses are five times less likely to be dissatisfied with a credit union than with
a big bank.[5]
India[edit]
Cooperative banks serve an important role in the Indian economy, especially in rural areas. In urban
areas, they mainly serve to small industry and self-employed workers. They are registered under the
Cooperative Societies Act, 1912. They are regulated by the Reserve Bank of India under
the Banking Regulation Act, 1949 and Banking Laws (Application to Cooperative Societies) Act,
1965.[13] Anyonya Sahakari Mandali, established in 1889 in the province of Baroda, is the earliest
known cooperative credit union in India.[14]
The Cooperative Credit System in India consists of Short Term and Long Term credit institutions.
The short-term credit structure which takes care of the short term (1 to 5 years) credit needs of the
farmers is a three-tier structure in most of the States viz., Primary Agricultural Cooperative Societies
(PACCS) at the village level, District Central Cooperative Banks at the District level and State
Cooperative Bank at the State level and two-tier in some States voz., State Cooperative Banks and
PACCS. The long term credit structure caters to the long term credit needs of the farmers(up to 20
years) is a two-tier structure with Primary Agriculture and Rural Development Banks (PARDBs) at
the village level and State Agriculture and Rural Development Banks. The State Cooperative Banks
and Central Cooperative Banks are licensed by Reserve Bank of India under the Banking Regulation
Act. While the StCBs and DCCBs function like a normal Bank they focus mainly on agricultural
credit. While Reserve Bank of India is the Regulating Authority, National Bank for Agriculture and
Rural Development (NABARD) provides refinance support and takes care of inspection of StCBs
and DCCBs. The first Cooperative Credit Society in India was started in 1904 at Thiroor in Tiruvallur
District in Tamil Nadu
Primary Cooperative Banks which are otherwise known as Urban Cooperative Banks are registered
as Cooperative Societies under the Cooperative Societies Acts of the concerned States or the Multi-
State Cooperative Societies Act function in urban areas and their business is similar to that of
Commercial Banks. They are licensed by RBI to do banking business. Reserve Bank of India is both
the controlling and inspecting authority for the Primary Cooperative Banks.
Israel[edit]
Ofek (Hebrew: ‫ )אופק‬is a cooperative initiative founded in mid-2012 that intended to establish the first
cooperative bank in Israel.[15]
Italy[edit]
See also: Category:Cooperative banks of Italy
Since the 19th century, Italy has had hundreds of "banche popolari" (popular banks) and "banche di
credito cooperativo" (cooperative credit banks) which are different kinds of cooperative societies
(governed by an assembly where every shareholder/member has 1 vote). As of 2016, the biggest
was Banca Popolare di Milano (founded in 1865).[citation needed]
Starting in 2016, due to a new law, several cooperative banks will be forced to merge and/or be
converted to società per azioni.

Microcredit and microfinance[edit]

The more recent phenomena of microcredit and microfinance are often based on a cooperative
model. These focus on small business lending. In 2006, Muhammad Yunus, founder of the Grameen
Bank in Bangladesh, won the Nobel Peace Prize for his ideas regarding development and his pursuit
of the microcredit concept. In this concept the institution provides micro loans to requires.

List of cooperative banking institutions[edit]

Cooperative banking institutions

Asset
Mem s
Nam Cou bers (2010
Type Alternative name Notes
e ntry (2010 US$
)[16] millio
ns)[16]

Coop
Bank
Pertama
(formerl The first national
Islamic Koperasi Co-opbank
y Malays 300,000 RM3.4 cooperative bank in
cooperative Pertama Malaysia
known ia + Billion Malaysia established in
bank Berhad
1950
as Bank
Persatu
an)

Islamic Bank Kerjasama Second national

Bank Malays
907,918 cooperative Rakyat Malaysia cooperative bank in
Rakyat ia
bank Berhad Malaysia founded in 1954

local banks of ther group

majority owned by
Crédit individuals; local banks
Bank Caisse Nationale de
Agricole France jointly-owned Crédit
(Public S.A.) Crédit Agricol
S.A. Agricole S.A. indirectly,
via regional bank of the
group
 Cooperative banking institutions

Asset
Mem s
Nam Cou bers (2010
Type Alternative name Notes
e ntry (2010 US$
)[16] millio
ns)[16]

Islami
Co- First Islami & largest Co-
operativ operative Bank in
e Bank Bangladesh based on
Ltd.(Inst Islami Sariyah.
ead of Signed: Registration No.
Bangla Central Co- 57/c, Dated: 3rd Aug
Sandwi ICBL
desh Operative Bank 1922.
p
Central
Co- Head office: Zakir
Hossain Road, Khulshi,
Operati
Chittagong-4209,
ve Bank
Bangladesh.
Ltd.)

Belgiu 288,000[ formerly Landbouwkre Independent from Crédit

Crelan 17]
Bank
m diet(agricultural) Agricole since 2015[17]
Deutsche Owned by three quarters
Zentralgenossenschaft of
Germa 17,700,
DZ Bank Bank bank all Volksbankand Raiffeise
ny 000[18]
German Central nbank (cooperative banks)
Cooperative Bank in Germany and Austria
Caisse
literally “savings
d'Eparg France Bank Credit union federation
bank”
ne
Raboba Netherl 1,500,0
Bank Credit union federation
nk ands 00+
Nation
wide 15,500, Building World's largest building
UK
Building 000[19] society society
Society
Banglad
The largest Co-Operative
esh
Bangla Bank in Bangladesh with
Samaba [17]
Bank
desh 478 Registered Member
ya Bank
Society.[17]
LTD.
 Cooperative banking institutions

Asset
Mem s
Nam Cou bers (2010
Type Alternative name Notes
e ntry (2010 US$
)[16] millio
ns)[16]

Groupe
Banque 3,400,0
France Bank
Populair 00
e
Desjardi
5,795,2 Credit union
ns Canada Leading bank in Quebec
77[20] federation
Group
Raiffeis
Bank owned by regional
en Bank
Austria (Public aktieng RI Raiffeisen Bank of
Internat
esellschaft) Austrian states
ional
Banking
National Agricultural
Nonghy South division of Approx US$230 billion in
Cooperative
up Korea agricultural loans
Federation (NACF)
cooperative
Istituto Centrale delle
ICCREA Bank (società owned by credit unions of
Italy Casse Rurali ed
Banca per azioni) Italy
Artigiane
Cassa
Central
e Banca
–
Bank (società owned by credit union of
Credito Italy CCB
per azioni) Northern Italy
Coopera
tivo del
Nord
Est
Raiffeis
en Cassa Centrale
Bank (società owned by credit union of
Landesb Italy Raiffeisen dell'Alto
per azioni) South Tyrol region, Italy
ank Adige
Südtirol
Raiffeis
en Switzer
Credit union federation
(Switzer land
land)
 Cooperative banking institutions

Asset
Mem s
Nam Cou bers (2010
Type Alternative name Notes
e ntry (2010 US$
)[16] millio
ns)[16]

Banco
Coopera
tivo
Español Spain
and
Caja
Rural
31% share of Finnish
OP
1,750,0 credit market, and 32%
Financia Finland
00[21] share of savings and
l Group
deposit market[22]
POP
Finland Credit union federation
Pankki
Bank
Austral 125,000 Australia's first customer
Australi $3b bank
ia + owned bank
a
Co- Not
Subsidiary of consumer
operativ UK applicab [24]
Bank
cooperative
e Bank le[23]
Navy
Federal 3,004,3
US 33012 Credit union
Credit 52
Union
Shared Cooperative
UK [25]
Finance for fair trade
Interest lending society
GLS Germa
Bank ny
The
New
Coopera 120,000
Zealan Bank Customer owned bank
tive +
d
Bank
Banco
Argenti
Credico
na
op
See also[edit]

 Banks portal

 Building society
 Credit union
 Mutual savings bank
 Rotating savings and credit association
 Savings and loan association

References[edit]
1. ^ https://www.ilo.org/wcmsp5/groups/public/---ed_emp/---emp_ent/---
coop/documents/publication/wcms_207768.pdf
2. ^ Jump up to:a b https://www.fool.com/investing/general/2011/11/22/in-
pictures-banks-vs-credit-unions-in-the-financia.aspx
3. ^ Jump up to:a b https://www.sba.gov/advocacy/how-did-bank-lending-
small-business-united-states-fare-after-financial-crisis
4. ^ Jump up to:a b https://nwcua.org/2014/09/03/credit-unions-twice-as-
trusted-as-big-banks/
5. ^ Jump up
to:a b https://www.newyorkfed.org/medialibrary/media/smallbusiness/20
16/SBCS-Report-EmployerFirms-2016.pdf#page=23
6. ^ The Co-operative Bank of the UK strictly limits its borrowing from the
markets, according to an October 2008 statement [1]: “... we do not
borrow in the financial markets in order to lend. Our lending capital is
generated from customers' investments and savings, leaving us a
good deal less exposed to the vagaries of the market than many of the
major lenders.”
7. ^ E.g., 12 U.S.C. § 1752(1), available at "Archived copy" (PDF).
Archived from the original (PDF) on 2009-03-30. Retrieved 2009-05-
05.; CUNA Model Credit Union Act § 0.20 (2007); see also 12 U.S.C.
§ 1757, available at "Archived copy" (PDF). Archived from the
original (PDF) on 2009-03-30. Retrieved 2009-05-05.; CUNA Model
Credit Union Act § 3.10 (2007).
8. ^ TNAU. "LAND DEVELOPMENT BANK". TNAU Agritech Portal.
Retrieved 8 January2014.
9. ^ Credit Union Central of Canada. "System Results: National System
Review, Third Quarter, 2012" (PDF). Retrieved 12 December 2012.
10. ^ Co-op Group sells final stake in Co-op Bank, BBC News, 21
September 2017. (retrieved 6 April 2018)
11. ^ "2013 Annual Report" (PDF). www.ncua.gov. National Credit Union
Administration. Retrieved 6 September 2014.
12. ^ Marte, Jonnelle (August 5, 2014). "About 100 million Americans are
now using credit unions. Should you join them?". The Washington
Post. Retrieved September 5, 2014.
13. ^ D. Muraleedharan (2009). Modern Banking: Theory And Practice.
PHI Learning Pvt. Ltd. p. 9. ISBN 978-81-203-3655-1. Retrieved 3
March 2015.
14. ^ "Brief History of Urban Cooperative Banks in India". Reserve Bank of
India. Retrieved 3 March 2015.
15. ^ "Ofek aims to bring 'social banking' to Israel as first credit
union". jpost.com.
 16. ^ Jump up to:a b Figures at close of institution's 2007 financial year,
from organization's annual report. If no US$ equivalent given in annual
report, exchange rate of December 31, 2007, used.
17. ^ Jump up to:a b c d "De geschiedenis van Crelan". crelan.be.
18. ^ Banks, BVR, Bundesverband der Deutschen Volksbanken und
Raiffeisenbanken, National Association of German
Cooperative. "Presse – Zahlen, Daten, Fakten – BVR –
Bundesverband der Deutschen Volksbanken und
Raiffeisenbanken". bvr.de.
19. ^ https://www.nationwide.co.uk/-
/media/MainSite/documents/about/corporate-information/results-and-
accounts/review-of-the-year-2018.pdf
20. ^ Desjardins Group figures — Information as at December 31, 2008.
Available at http://www.desjardins.com/en/a_propos/qui-nous-
sommes/chiffres.jsp
21. ^ https://op-year2016.fi/op-ryhma/omistaja-asiakkaat
22. ^ "Key figures". Unico Banking Institute. 2006.
23. ^ Co-operative Bank customers are eligible to join its parent Co-
operative Group
24. ^ 13.1 billion GBP
25. ^ GBP 25.1 million

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