ILO homeAbout the ILOHow the ILO worksOrganizational structureEnterprises DepartmentAreas of workSocial financeSocial Finance Working Paper #11: On the theory of credit ... Social Finance Working Paper #11: On the theory of credit cooperatives: equity and onlending in a multi-tier system A concept paper Download: Social Finance Working Paper #11: On the theory of credit cooperatives: equity and onlending in a multi-tier systempdf - 0.1 MB Discusses how financial cooperatives may be handicapped by their governance structure.