A new ILO study entitled Resilience in a downturn: The power of financial cooperatives, says that financial cooperatives fared better than the shareholders-owned banks during the economic crisis.
This new ILO book is a follow-up of a previous report titled 'Resilience of the Cooperative Business Model in Times of Crisis' that was released in 2009 and had already emphasised on the resilience of co-operatives in time of crisis.
The ILO analysis of this study dedicated to financial co-operatives can be found by clicking HERE.
An interview with Mr Birchall (author of the study) can also be found on the ILO website.