A short but rich history of Skaudvilės credit cooperation (1920–1949)

Vladas Terleckas

The history of credit cooperation in Skaudvilė Valsčius is restored in the article according to the investigation based on the original sources.

The movement of credit cooperation in this region started and first credit enterprises were established soon after Lithuania regained its independence. Initially, there were three credit coopertives in Skaudvilė: Jewish People’s Bank (ŽLB), Farmers’ Union Small Credit Bank (SKB) and Parama Small Credit Society. In 1930, SKB suffered big losses and was dissolved. In 1931–1935, Parama also did not withstand the economy crises and in 1937 it joined the Batakiai Valsčius Farmers’ Savings and Loan Fund (TSK). The Jewish People’s Bank (ŽLB) was operated most successively.

The article describes activities of these credit institutions and their tendencies with the names of their leaders given.

In 1941, the Batakiai–Skaudvilė TSK was reorganised into an institution operated according to Soviet regulations, thus it lost its cooperative status and was renamed into an agricultural credit society. In 1947 the Batakiai–Skaudvilė Agricultural Credit Society divided into two independent societies provided mainly long-term loans for farmers to purchase livestock and construct buildings.

After the general collectivisation started, at the end of 1949, the Skaudvilė Agricultural Credit Society was dissolved.