Credit Union - the future of co-ops in Poland

I`m client of a large Credit Union for a many years.They exist for more than 100 years and for that time have became
the largest regional depositary institution (the one in which people store their money).I do not know deeply their policies, but did not hear they would have some serious restrictions.They have divisons in two major cities and two large regions of country.I do not see why any restrictions in co-ops should be self-imposed.Competition between co-ops suppose allow to win to those of them which are based on most efficient rules.Up to now historical practics shows that most efficient and universal type of dovernment is democracy.

True co-op suppose to be democracy.Workers are always able to elect the best manager from available.If he looses talant or strength elect a new and a better one.If production means are transfered by inheritance who could guaranty that a heir will have at least the same tallent as the father and would be the best candidate to manage a company?The more thechnologically advanced society becomes the more skills and talant it requires to have for a certain high-rank position.Is it fully compatible with something based on inheritance?

Merged: Bankruptcy of Kasa Wspólnota (a credit union of Poland)

Kasa Wspólnota is one of Polish SKOKs - credit unions. Last year they were included under supervision of KNF (Financial Supervision Authority) and deposits were insured in Bankowy Fundusz Gwarancyjny up to 100 000 eur. Now KNF has found out that Kasa Wspólnota has too many bad debts and cannot function any longer. On 18 July this SKOK filed for bankruptcy.


I don't remember when some bank bankrupted last time in Poland.

I doubt it'll be the last SKOK to go under: some of them are in very deep trouble indeed.

Where I live in Zywiec, there is a bank on every corner and then some. I would certainly like to know how they all survive. And then there are the credit places. OMG! Must be a heck of a lot of Poles in some MAJOR debt.