of the summer holidays to move the machinery and dies from the Vitoria plant to Mondragon, and in November the workshop was officially opened. After the good start of ULGOR, in 1957 with the participation of former students of the Professional School, Arizmendiarrieta promoted the creation in Mondragon of Talleres Arrasate Industrial Cooperative, to revive the company Aranzabal Workshop, which was in bankruptcy. The statutes were drawn up by himself in collaboration with two lawyers from Madrid, one of whom was responsible for the National Union of Industrial Cooperatives. The object of the new cooperative company was "the manufacture and sale of machines, tools, punching and tooling". Credit unions In August 1958, Arizmendiarrieta went with an excursion of students and professors from the Polytechnic School to the World Exhibition in Brussels, and took advantage of his first trip abroad to visit different automobile, household appliances and machine tools companies in France, Holland, Belgium and Germany. After the trip, he decided to undertake an idea that had been maturing in recent years, the creation of cooperative credit entities. At the beginning of 1959 he drafted two preliminary projects, which would materialize in the creation of a financial entity and another assistance entity. Financial entity The objective of the “Labour Bank" (Laboral Kutxa) credit cooperative financial entity, was to cover the industrial and service cooperatives in their investments and growth, and in turn, channel their profits and the savings of their members. The first office was opened in October 1959, and in addition to it financial function, it assumed the activation of the Social Welfare service to cover the 314 members of ULGOR and the other industrial cooperative “Talleres Arrasate”. In the statutes that he presented for its approval, he reinforced the inter-cooperation, by passing the existing cooperatives to be members of the credit cooperative and proposing to the new cooperatives the incorporation as members. In this way, they mutually reinforced their solvency. A characteristic of Labour Bank from its beginnings, and until the creation in 1991 of the Mondragon Corporation, was the existence of two Divisions: the Financial and the Business Division. While the former performed the ordinary functions of a savings bank, the functions of the Business Division were autonomous. On the one hand, it supported existing cooperatives in matters of internationalization, management or legal advice, and on the other, it promoted the creation of new cooperatives, both in sectors