Catalonia had in the 90’s 7 credit cooperatives (mainly in rural areas) and 10 Savings Banks (mainly in urban areas).
Since 2008, the Spanish financial sector has undergone a significant process of restructuring and. Mismanagement, accentuated by the crisis, successive financial reforms promoted by the government and the bailout by Europe crushed the former Spanish financial system.
The effects of the crisis on the financial system have been:
Associació per la nova Caixa Catalana Cooperativa de Crèdit is a platform that aims to set up de foundations for the creation of this popular local banking cooperative.
It is linked to the work of grassroots civic associations and is a managed following democratic and transparent rules of commitment to the region and solidarity.
We are an independent non-profit association devoted to this project. Promoters include small business managers, former workers of savings banks, high level academics and citizens who believe in the project.
We intend to follow the commercial banking model, based on collecting money from savers via deposits and current accounts and giving loans to the most vulnerable sectors of society and to those interested in enhancing for modernization of the country. The credit policy of Caixa Catalana will prioritize:
Caixa Catalana will not act as an investment banker. It will not induce market speculation in sectors such as real estate.
The association is weaving a network of people that are interested in the project to create a new Cooperative Savings Bank, which brings together the diversity of our country.
Then, together, we will design the details of the project, taking into account economic feasibility studies, legal and tax advisors.
Finally, we will begin the collection of founding capital, with the rigor of a board of trustees.
Current legislation allows us to address the European Central Bank directly to obtain a European banking license.
Once the license is obtained, the purpose of the organization will expire when we establish the Savings Bank.