Financial Co-ops

Financial co-operatives form a vast network around the world today. Broadly-speaking, they can be grouped into three kinds of co-operatives: community-based co-operative banks, co-operative banks owned by co-operatives, sometimes with considerable state involvement and co-operative insurance companies either owned by other co-operative organisations or through a mutual structure.

Community based co-operative banks are known by various names in different countries, for example, Raiffeisenbanks in Germany, Rabobank in the Netherlands, Credit Mutual in France, credit unions in many parts of the world, and thrift and credit co-operatives in other parts of the world.

Co-operative banks owned by other co-operatives, such as the Co-operative Bank in the United Kingdom, Norinchukin Ban in Japan, the Co-operative Bank of the United States and Zenchu in Korea are powerful forces in their national movements.

General information on the international co-operative banking movement can be found on the web page of the International Co-operative Banking Association of the International Co-operative Alliance (http://www.coop.org/icba)

Insurance co-operatives emerged in the nineteenth century and have become the most successful co-operatives in forging international linkages, particularly through the International Co-operative and Mutual Insurance Federation (ICMIF).