The report notes that financial cooperatives have fared better than the investor-owned banks in times of crisis. Savings and credit cooperatives, cooperative banks and credit unions have grown, kept credit flowing especially to small and medium sized enterprises, and remained stable across regions of the world while (indirectly) creating employment. It is their unique combination of member ownership, control and benefit that is at the heart of their resilience and that provides a series of advantages over its competitors. With financial cooperatives presenting an astonishingly large slice of the global banking market, it is important to better understand the model.
Did you know that there is another Coop Zone? Coop Zone (or the "Zone Coop") is a consumer cooperative in Quebec City, which offers the university community -- and the academic world -- a range of products and high quality services tailored to the needs of its members throughout their educational and professional path; hardware and technical services, books and stationery, e-books, art supplies, clothing and promotional items.