# Credit unions; credit co-operatives

- Canonical URL: https://www.gerhardmerk.de/credit-unions-credit-co-operatives
- Post ID: 591302
- Modified: 2023-07-25T20:59:21+00:00
- Language: en

## Definition

Generally, groups of people who pool their saved money and lend it on favorable terms to members seeking credit. The business is run by elected cooperatives, often on a part-time basis (as a second job). In the USA, there are about 25,000 such institutes, almost exclusively in the agricultural sector. - In Germany, they are known as cooperative banks and are legally constituted in their own way. - See three-pillar model, eLolly, investment club, credit cooperative, credit intermediation platform, margin call, peer-to-peer lending, social lending platform, Volksbank. - Cf. BaFin Annual Report 2004, p. 113 (statistics), BaFin Annual Report 2007, p. 121 (changes at cooperative banks). Attention: The financial encyclopedia is protected by copyright and may only be used for private purposes without express consent! University Professor Dr. Gerhard Merk, Dipl.rer.pol., Dipl.rer.oec. Professor Dr. Eckehard Krah, Dipl.rer.pol. E-mail address: info@ekrah.com https://de.wikipedia.org/wiki/Gerhard_Ernst_Merk https://www.jung-stilling-gesellschaft.de/merk/ https://www.gerhardmerk.de/

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