Laboral Kutxa

Laboral Kutxa is a Basque credit union that provides banking, savings and investment services.

Those co-operatives would be the first members of what is now called the Mondragon Corporation and, according to Arizmendiarrieta's plan, the credit union would serve as a financial instrument for them.

Before its merging with Ipar Kutxa, Caja Laboral had 1.887 working members, 21.536 million euros in assets, 1.200.000 clients and 367 offices in the Basque Country and Spain.

Ltda and six years later, after avoiding bankruptcy thanks to the intervention of the Bank of Spain it became Caja Rural Vasca (or Baserritarren Kutxa in Basque) and began to grow outside Biscay.

When it merged with Caja Laboral, Ipar Kutxa had 3.967 million in assets, 87 offices (mainly in Biscay and Alava), 175,000 clients and 397 workers (fuente).

[8] The merged company would be the first credit union and the third largest financial institution in the Basque Country (after Kutxabank and BBVA).

Between March and November 2012 all operations between companies were made free of charge for clients,[9] IT services became one and older workers were offered early retirement.

[12] Those clients with a strong commitment with the union can also become members if they wish to: in February 2013 Laboral Kutxa allowed them to do so with a small contribution (2.000 euros).

For decades, Caja Laboral had used the symbol of a key for branding while Ipar Kutxa had no distinct image apart from its initials or full name.