In Cyprus I have noticed that there are many cooperative banks such as Spe Strovolou and many others, whilst in Greece you do not see as many as in Cyprus.
What is the difference between a cooperative bank and an ordinary bank?
Add a comment
|
1 Answer
With cooperative banks the share-holders are generally people who open accounts and deposit funds. Those deposited funds equate to shares. They are also usually operated as not for profit. In other regions, these cooperative banks are often called credit unions or mutual savings banks.
answered Mar 10, 2017 at 18:25
NL - SE listen to your usersNL - SE listen to your users
32.8k19 gold badges87 silver badges145 bronze badges