Federcasse

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The Federazione Italiana delle Banche di Credito Cooperativo - Casse Rurali ed Artigiane (lit. 'Italian federation of cooperative credit banks - rural and artisanal cooperative banks'), abbreviated as Federcasse, is the nationwide umbrella organization of cooperative banks in Italy, based in Rome. Its oldest direct predecessor was the Federazione Italiana delle Casse Rurali Cattoliche (lit. 'Italian federation of Catholic rural cooperative banks'), established in 1909. The first Italian cooperative bank had been the Cassa Rurale a Loreggia in the province of Padua, created in 1883 at the initiative of economist and politician Leone Wollemborg following the model pioneered in Germany by Friedrich Wilhelm Raiffeisen. Several initiatives followed to establish representative organizations of the cooperative movement, including the Federazione fra le Casse Rurali e Sodalizi affini formed by 51 rural cooperative banks in 1888 and the Lega delle cooperative in 1893. By 1897, there were more than 900 cooperative banks in Italy, of which 775 directly supported by the Catholic Church in the wake of Pope Leo XIII's encyclical Rerum novarum of 1891. The Federazione Italiana delle Casse Rurali Cattoliche was founded in September 1909 in Brescia. In 1919, the Federazione Italiana delle Casse Rurali joined the Confederazione Cooperative Italiane formed by Catholic cooperative banks seceding from the Lega delle cooperative, the latter being increasingly associated with Socialist politics. In 1926, the Fascist regime legislated the creation of the Associazione Nazionale tra le Casse Rurali ed Enti Assimilati whose head was appointed by the government. Following postwar turmoil, the Federazione Italiana delle Casse Rurali e Artigiane was re-established in 1950. In 1963, it fostered the establishment of a central financial entity, the Istituto di Credito delle Casse Rurali e Artigiane or ICCREA.