In practically all European countries, co-operative credit societies have evolved towards a system which is comparable to other financial groups. This paper explores the recent evolution of Spanish credit co-operatives and especially rural savings banks. The creation of "Group Caja Rural" in 1989, has meant the greatest commitment to the integration of Spanish credit co-operatives in the face of the challenges of economic globalisation and the great changes in the national and international financial system. The running of this Group is through a vertebrate structure, in co-ordination and representation aspects as well as in operative functions.