Could co-operatives inspire a better economy?

The Mondragon federation of co-operatives has been the foundation of the economy in Spain’s Basque country for decades. It was founded back in 1956 by a priest – José María Arizmendiarrieta  – who believed that the best response to the hostility and neglect of the region by the fascist dictator Franco was to develop co-operatives that relied on mutual self-help and independence.  Today there are 96 co-operatives which are members of the federation, employing more than 81,000 people. The federation includes manufacturing businesses, financial institutions, retailers and …

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A partnership between Credit Unions and Belfast City Council could make £100 million available for social investment…

John Hume once said the Credit Union movement that of “all the things I’ve been doing, it’s the thing I’m proudest of because no movement has done more good for the people of Ireland, north and south, than the credit union movement.” This is some acknowledgement from a Nobel Peace Laureate but then again he was a founder member of Derry Credit Union and at the age of 27 he became the youngest ever President of the Irish League of Credit …

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“When the banks stopped lending we were there for everyone” – in support of the credit unions bringing old-fashioned banking back to our high street

They have cross-party support, a wave of new members, new premises opening in our town centres and financial strength unaffected by the credit crunch. With an aim to provide a listening ear, a caring service, community spirit and practical help, it is not just a return to the best parts of banking from the past but the entire service is provided by your neighbours for your neighbours. Which is why, in comparison, the change in banking as we know it …

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