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The orphan banks were de facto the only credit institutions in the German villages until 1908. See also 6.4, Community tasks and self-help organizations Gradually, banks and financial institutions were established. 1) Small credit unions and banks came into being around 1907 and it was in this phase that the Krasna Association bank was founded 1912-1913. See also 4.4, The Guilds, Trade and Bank Management in Krasna
Then came World War I and finally Bessarabia’s switch to Rumania. At this time many institutions folded. One of the few association banks to survive this crisis was the Association Bank of Krasna.
After 1920 better opportunities for banking and credit matters came into being. First a brief mention of the opportunities in Russian times:
See also 4.4, The Guilds, Trades and Bank Management of Krasna
The larger institutions were new. 3)
It is not known how and where Krasna people did their money transactions individually. We can assume that they used the local institutions mainly. They were also quite suspicious and probably did not make large bank deposits; they preferred stashing their cash in straw sacks. When necessary, they probably would rather have loans with relatives or neighbors. This was more economical than getting bank loans and paying the high interest there.