Cooperative Banking [10]
150 Years of Cooperative Banking in Poland
Face value: 10 pln
Alloy: 925/1000 Ag
Diameter: 32 mm
Weight: 14.14 g
Finish: proof
Mintage: 40000 pcs
On the edge: smooth
Additional: no
Date of issue: 2012-02-23
Issue price: 96 pln
Designer: Dominika Karpińska-Kopiec
Designer: Dominika Karpińska-Kopiec
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Article linked with this coin
The idea of financial self-help had evolved in Poland since the
15th century. In 1577 Rev. Wawrzyniec Białobrzeski set up the
Ostrołęka Cheap Loan Foundation. The 16th century also saw
the formation of religious banks offering interest-free loans out
of a pool of donations of the faithful and guaranteed by forfeits. At a later time charitable organisations made no-interest loans to
peasants whose repayment was jointly and severally secured by
farmers living in the same village.
In Poland typical credit unions began to emerge out of
the need to protect interests of small farmers and artisans against
competition from the large-scale capitalist industry. Financial selfhelp
manifested itself, among other things, in establishing funds
without any support ...