ABSTRACT
The evolution of Almería, a province in southern Spain, is of particular interest in demonstrating the role of cooperative finance in social, economic, and institutional development. In this case study, a cooperative bank is shown to have been a proactive force in developing economic activity and technological innovation, establishing cooperative institutions and networks, filling a civil society vacuum, and playing a cohesive function in the creation of a cooperative community in the midst of a dictatorship. In addition, we reconsider the notion of ‘territory’ in the context of both constructed communities and the need to reconcile the financial necessities of such communities and the growth strategies of cooperative banks.
