Cooperative Financial Institutions

Financial institutions owned and controlled by their members.

Our first stop is another component allied with Mongragon University called SAIOLAN. It's an incubator project for helping to launch new coops and high-tech businesses as well as training new entrepreneurs.
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Our topic this morning is the wider range of the cooperative movement, both in the Basque Country and Spain. Mondragon is a part of the Basque Cooperative Confederation. There are currently 755 cooperatives in the Basque Country, and only 80 of them are the worker-owned MCC coops. There are a total of 537,000 members of all the coops, but only 54,919 are worker members, and 37,860 of these are the MCC worker-owners. 

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In the recent series on his blog, The Workers' Paradise ,McNamara is very strong on the possibility of the cooperative movement being able to move to scale.  But he wisely directs our attention to the big problems this is going to bring, problems that are already burdening cooperatives.  The primary one he refers to is “the agency problem” (which is pretty much what I mean by “top/down problem”).

I'm with a group of 25 social activists on a study tour organized by the Praxis Peace Project. Our focus is the Mondragon Cooperative Corporation, a 50-year-old network of nearly 120 factories and agencies, involving nearly 100,000 workers in one way or another, and centered in the Basque Country but now spanning the globe. We're here to study the history of these unique worker-owned factories, how they work, why they have been successful, and how they might be expanded in various ways as instruments of social change.
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Thank you, John McNamara for advancing the conversation about the opportunities, issues, and problems of taking the cooperative advantage to scale.
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By Yvon Poirier
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by Jim Johnson, GEO Collective

Past issues of GEO have reported on the emergence of a particular type of worker cooperative, the home care cooperative. In the 1980s, the federal government followed the lead of state governments like Wisconsin and acknowledged that elderly and disabled people who need help in day-to-day living are best served by in-home assistance. Medicare and Medicaid funding that would have otherwise been used only for nursing homes would now be applicable to home care services.

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A brainstorm on strategies for local economic development
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By Ajowa Nzinga Ifateyo

Credit: www.fao.orgIn order to compete in a corporations-dominated economy, worker cooperatives need millions of dollars to finance large-scale businesses in manufacturing and production.

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