Caja Laboral Popular, Cooperative de Credito - Lan Kide Aurrezkia

Cooperative
Paseo Jose M Arizmendiarrieta s/n, Arrasate-Mondragon,  E-20500, Spain
()34 943 77 93 00, 34 943 71 97 86 fax, http://www.cajalaboral.com

Primary SIC: National Commercial Banks, Primary NAICS: Commercial Banking
Description: Finance: The statutes of the Caja set out that its activity will not be confined to any territorial limits and that its object is to serve the financial requirements of its members and third parties through activities characteristic of credit entities. To that end, the Caja may carry out all types of borrowing, lending and service operations permitted to other credit entities, including those which serve for the promotion and improvement of its cooperative objectives, giving preference to the financial needs of its members and respecting the legal limits for lending operations with third parties. Credit co-operatives are subject to regulations which require, inter alia, the following: (a) maintenance of a minimum percentage of liquid assets on deposit at the Bank of Spain for cash ratio coverage; (b) contribution to a Deposit Guarantee Fund, for the purposes of guaranteeing to depositors the recovery of a certain percentage of their deposits; (c) distribution of the net surplus for the year between the Education and Development Fund and reserves; (d) maintenance of minimum equity determined by the volume of investments made and liabilities assumed