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HISTORY

The Co-Operative Credit Society Periferias Polis Chrysochous, as well as the other CO-OP companies worked methodically and progressively to hit usury in its root.

The Co-operative Movement is not based on the greed, believes in the Human and in his needs and does not have short-term profits. Above from all it places the Human, the Society and its Homeland.
Aim and objective of all of us are the side effects of this big economic and social crisis to be as small and less painful  as possible for the compatriots our and residents of our region.

Old Background
The first Co-Operative societies were founded in Central Europe and the United Kingdom from 1830 - 1840. Cyprus, situated in the Eastern Mediterranean, far away from Central Europe, adopted the co-op societies timidly at first starting after 1900.
The situation that prevailed in the countryside at the time was harsh and miserable for the Cypriot farmers. The farmers were enslaved to the money lenders and merchants. It was very common for the farmers to lose everything they owned including their homes, and their property was sold for a ridiculously low price, so that the money lenders could received the money they had loaned to the poor farmers.
At this crucial time for the Cypriot farmer, the Co-Operative Credit Society Polis Chrysochous was founded in 1927. The first Committee was composed by the following people:

Chairman:        Papademetris  Papacharalambous

Members: 
Nicholas Hatjichristodoulou
Christodoulos Papanicopoulos
Hasith Ousein Kallikas
Ahmet Faiz
Secretary:        Kypros  Rossides

So the first committee and the others which followed struggled under difficult conditions to join the scattered power of the island and to render productive the bonds of collaboration and mutual aid, so that the co-operative movement could reach today's form.