Banco Credicoop – Argentina’s only co-operative bank – celebrated its 40th anniversary with 12 events to reflect the bank’s presence in virtually every province.
One event, in Comodoro Rivadavia, Patagonia, began with speeches from regional director Miguel Ruiz and Carlos Louzan from the board of directors. The event, which brought together branches from the towns of Caleta Olivia, Trelew and Puerto Madryn, continued with dinner for invited employees, directors, members, companies and social enterprises.
The bank, which has 268 branches across the country, was formed in 1979 through the merger of 44 credit co-operatives.
“We’ve celebrated 40 years of the bank, but in fact it has been 100 years since the first credit co-operative opened in Buenos Aires, so our history stretches back further than 40 years,” said deputy branch manager Juan Carols Picchio.
Mr Picchio started out at a credit co-operative in 1973. “It wasn’t the co-operative movement’s idea to become a bank,” he said. “This was forced upon us by the dictatorship, but we fought to maintain the co-operative ethos.
“At that time, a lot of co-operative banks were formed and gradually merged, so today we can say that Banco Credicoop is the result of that process.”
He said that despite changing economic circumstances “we’ve always stuck by our members and fought for their interests”.
Liliana Carnevale, president of the bank’s Central Comodoro Rivadavia Members Association, added: “We’re celebrating what seemed like an impossible ideal 40 years ago. The growth in the number of branches throughout the country means the bank is playing an increasingly important role in communities.”
“It’s the only co-operative bank in the country and does not profit like private banks. Any profit is distributed among its members.”
