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Brief

BPDC: Costa Rica’s Worker-Owned Bank

Published on 31 March 2020

Banco Popular (Banco Popular y de Desarrollo Comunal, BPDC) is a cooperative bank that is owned and managed by the workers of Costa Rica. Its diverse clients include workers, farmers, enterprises, and a variety of development associations. Workers who hold a savings account for over one year have the right to shared ownership in the bank while employers and workers together contribute to the bank’s capital base. The governing body of BPDC is a democratically elected Worker’s Assembly comprised of 290 representatives from among the bank’s worker-owners. The assembly advises on strategic guidelines and procedures for the day-to-day actions of the BPDC and selects four of the bank’s seven board members. BPDC aims to combine commercial and developmental functions to achieve environmental and social good along with financial returns.

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Lopez-Franco, E.; Cannon, M. and Thorpe, J. (2020) 'BPDC: Costa Rica’s Worker-Owned Bank', Case Summary No. 14, Brighton: IDS

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Image of Erika López Franco

Erika López Franco

Research Officer

Mariah Cannon

Research Officer

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Region
Costa Rica

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