The WIR Bank in Switzerland has been successfully running for over 60 years. It was started in the 1930s in response to the great economic crises of the time.
Studies have shown that it’s turnover is extremely counter-cyclical, adding to the resilience and stability of the Swiss Economy. They are a great long-term example of how financial co-operatives prove to be more resilient in times of crisis.
Almost 20% of all Swiss Businesses are members and they have an annual turnover of nearly £3 billion. Is it time to create something similar in the UK? I’d say it is long overdue. The videos above and below are great intros to the WIR, watch, enjoy and share! 🙂