Cooperative and Rural Banks
Rural and cooperative banks are the more popular type of banks in the rural communities. Their role is to promote and expand the rural economy in an orderly and effective manner by providing the people in the rural communities with basic financial services. Rural and cooperative banks help farmers through the stages of production, from buying seedlings to marketing of their produce. Rural banks and cooperative banks are differentiated from each other by ownership. While rural banks are privately owned and managed, cooperative banks are organized/owned by cooperatives or federation of cooperatives.
A rural bank has the power to provide adequate credit facilities to farmers and merchants or to cooperatives of such farmers and merchants and, in general, to the people of the rural communities of which the rural bank operates in.
Read more about this topic: List Of Banks In The Philippines
Famous quotes containing the words cooperative, rural and/or banks:
“Then we grow up to be Daddy. Domesticated men with undomesticated, frontier dreams. Suddenly life—or is it the children?—is not as cooperative as it ought to be. It’s tough to be in command of anything when a baby is crying or a ten-year-old is in despair. It’s tough to feel a sense of control when you’ve got to stop six times during the half-hour ride to Grandma’s.”
—Hugh O’Neill (20th century)
“Once wealth and beauty are gone, there is always rural life.”
—Mason Cooley (b. 1927)
“I am an intelligent river which has reflected successively all the banks before which it has flowed by meditating only on the images offered by those changing shores.”
—Victor Hugo (1802–1885)