Our local Bank!
The Cooperative Bank was initially founded and operated in the city of Ioannina under the trade name “Ioannina Prefecture Development Credit Cooperative ‘O STOCHOS’ – SYN.P.E.”, subject to the decision no. ΕΣ 33048/12.12.1978 of the Prefect of Ioannina, in accordance with the provisions of Law 602/1914 on cooperatives, as they were in force after the relevant amendments and supplements by the provisions of Law 3200/1965 on administrative decentralization and the Laws 5289/31 and 6070/34.
The initiative for the foundation of the Credit Cooperative was promoted by the people of the Chamber of Ioannina, with the cooperation of local businessmen.
The participation of the Chamber, as well as of the local business community, provided the new Credit Cooperative the required trust that is a necessary condition for the development of a CREDIT initiative in a local community.
In November 1993, by means of decision no. 535/5/02.11.1993 of the Monetary and Credit Committee of the Bank of Greece (Government Gazette 198/23.11.1993), it was converted into a Credit Institution under Laws 1667/86 and 2076/92, under the name COOPERATIVE BANK OF IOANNINA SYN.P.E. O STOCHOS
By means of decision no. 269/30-09-2008, the Banking and Credit Committee approved the change in the trade name of the bank from Cooperative Bank of Ioannina Syn.P.E. to Cooperative Bank of Epirus Syn. P.E. In addition, its first branch outside of the Prefecture of Ioannina was approved (decision 259/02.05.08), in the administrative district of the Bank (Preveza).
The establishment and operation, in general, of the Cooperative Bank is in compliance with the applicable legislative framework. Law 1667/1986 (Government Gazette, 196-6/12/86) refers to the concept of the Civil Credit Cooperative, the conditions for its establishment, the content of the Articles of Association, the members of the Cooperative, the cooperative share, the general meeting, the board of directors and the supervisory board, the competences and their composition, the books that must be kept by the Cooperative, as well as to the supervision of Cooperatives.
These provisions have been incorporated into the Articles of Association, which is based on the existing institutional framework and the experience of other Cooperatives in the Country, which have already transformed into Cooperative Banks.
Law 3601/2007 refers to the undertaking and operation of credit institutions and other similar provisions. It determines the concept of a Credit Institution, the terms and conditions for the establishment and operation of a Credit Institution, the procedure for obtaining a license for the operation of a Credit Institution from the Bank of Greece, the revocation of a Credit Institution’s license, the freedom of establishment and provision of services in Greece and other European Union Member States, to the special holdings of credit institutions in other enterprises, to the concept and extent of the powers of the Bank of Greece and the competent authorities for the supervision of credit institutions and to other provisions.
Act 2258/2.11.93 of the Governor of the Bank of Greece established the operation and supervision framework of credit institutions in the form of credit institutions carrying out operations which, under applicable provisions, are carried out by commercial banks in Greece.