Financial co-operation among Maltese co-operatives : an evaluation

Abstract

Historically, the principles of solidarity, co-operation and support have always been a fundamental hallmark of co-operative societies around the world. In fact, the first co- operatives related to self-help groups aiming to ease deprivation and suffering and which enabled people to insure against illness and the effects of old age. Moreover, savings and lending societies served to overcome exploitation through extortionate interest rates demanded by lenders.