Belgrade Cooperative

Belgrade, Serbia

Belgrade Cooperative

Belgrade Cooperative (Serbian: Београдска задруга) was a cooperative bank founded in 1882 to promote savings and support small enterprises, craftspeople and the poor of Belgrade. Member-shareholders have been paying membership in amount of one Serbian Dinar per week. That is the way for cooperative to become a public savings bank. Luka Ćelović was the first president of cooperative, also a first Serbian insurance group.

The construction of Belgrade Cooperative coincided with the change of political regime in Serbia. After the assassination of the king Aleksandar Obrenović, the Karadjordjevic dynasty came to power, which led to a change in the system of governance. Autocratic regime was replaced by liberal bourgeois regime of Petar the I, the civil liberties were increased and the economic situation was improved.

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