Co-operative Banks and Credit Unions -the Past and the Present

Abstract

The co-operative banking system holds a permanent place in all social economic systems existing today. It has gained quite big popularity in market economies providing servicesor the sectors ofroduction, services as well as agriculture. Scope of operations carried by co-operative financial institutions in particular countries tends to vary and they also have their specific features in different countries. It is due to conditions prevailing in these countries, which either promote or hamper the development of co-operatives. These conditions can be said to include, for instance, existing traditions of the co-operative movement, a climate favourable for co-operatives, legal, economic and other factors advantageous for their development. A long and rich history of the Polish co-operative banking system holds a permanent place in Poland's history. It is one of the oldestforms of co-operatives operating till the present time. Co-operative banks and other co-operative entities operating in the financial market are characterised nowadays not only by their tradition but modernity as well. They benefit from rich and long traditions, but they also take into account the needs of communities, in which they exist.