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147. A bank not solely geared to profit

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Coop Name: Crédito Agrícola N° of Employees: 5000
City: Lisboa N° of Members: 400000
Country: Portugal Year of formation: 1911
Website: http://www.creditoagricola.pt Twitter: Link
About this coop:

Crédito Agrícola is a Portuguese private co-operative financial group. Its present corporate format was created in 1911, but the group’s roots go as far back as 1498.

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Crédito Agrícola is one of the few private Portuguese financial institutions which can lay claim to having exclusively national capital.

Also bathing the group in a positive light with the Portugese public is its contribution to the economic and social development of many regions of the country, generating benefits to the communities where its branch offices are located and to its associate members and clients.

Created in 1911 by the Law-Decree that regulated the foundation and activity of agricultural savings banks, Crédito Agrícola is an institution that has become deeply rooted in Portuguese society; today it has a network of approximately 700 branch offices, 5,000 employees, more than 400,000 associate members and 1,2 million clients.

Agricultural Savings Banks, which are cooperatives, form the basis of the Crédito Agrícola Group. They boost local economies in the regions where they are located and guarantee a close relationship between client and customer. Locally raised resources are, as a rule, invested in projects which give back socio-economic benefits to that region.

This story is an IYC Yearbook feature: http://ica.coop/en/iycbook

Author of this story
Kate Askew
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