Caja Laboral - Wikipedia https://en.wikipedia.

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Caja Laboral
Caja Laboral Popular Cooperativa de Crédito or Caja
Laboral (Workers' Credit Union) was a Spanish credit union
Caja Laboral
established in 1959 as part of the Mondragon Corporation and
headquartered in Mondragón, in the Basque Country of Spain.[1]
The major financial provider behind the Basque cooperative
movement, Caja Laboral covers the financial segment of
Mondragon and provides banking and financial services to its
customers through a network of over 370 branch offices in the
Basque Country and beyond. With over 1800 employees - who are
actually the partners-owners of the bank following the
cooperative philosophy of shared ownership and stewardship - Caja Laboral headquarters in
Caja Laboral generates annual revenue in excess of €330 million. Mondragón
Type Credit union
Together with its sister social assurance company Lagun Aro, Caja
Laboral spearheaded the Financial Group of the Mondragon Industry Financial services
Corporation, which according to company sources 'operates Successor Laboral Kutxa
autonomously within the framework of a sole joint strategy'. It
was the first Spanish financial institution to open its branches in Headquarters Mondragón, Spain
the late afternoons/early evenings. Area served Basque Country
Key people Txomin García
Caja Laboral was mostly unaffected by the 2008 financial crisis,
(President)
though they did have €162 million in bonds from Lehman
Brothers.[2] Effective with the 2009–10 basketball season, Caja Parent Mondragon
Laboral became the new sponsors of Liga ACB and Euroleague Corporation
club Saski Baskonia. Website cajalaboral.es (htt
p://cajalaboral.es)

References
1. Businessweek profile of Caja Laboral. (http://investing.businessweek.com/research/stocks/private/
snapshot.asp?privcapId=4839846) Business Week.
2. Caja Laboral has 162 mln euros of Lehman bonds. (https://www.reuters.com/article/idUSLM69025
720080922) Reuters. 22 Sept. 2008.

External links
Caja Laboral website (http://www.cajalaboral.es)
Mondragon Cooperative Corporation website (http://www.mcc.es)

Further reading
Freunlich, Fred. An introduction to MCC and the evolving role of Caja Laboral. (http://ownershipas
sociates.com/mcc-intro.shtm)

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