The Credit Cooperative System in Romania

Credit cooperatives in Romania are a category of non-banking financial institutions. The first forms of credit cooperatives emerged in nineteenth century. The credit cooperative system has its own cooperative self-help mechanism. Central House of Credit Cooperatives represents a credit institution established by the association of credit cooperatives, in order to manage their common interests, to track compliance with applicable laws and regulations for all affiliated cooperatives, by exercising administrative, technical and financial supervision and control on their operations.