This chapter examines how, in the absence of banks, guilds in the Ottoman Empire generated capital and provided credit to their members. This led to the creation of credit markets in what can be described as an early form of banking, establishing a precursor to modern cooperatives. After outlining the origins and legal framework of these guilds, the chapter delves into their methods of capital formation, which included fixed contributions from newly certified masters, and interest payments. It addresses control mechanisms to prevent the hoarding and misuse of financial resources and examines credit patterns and risk management strategies. These strategies involved profiling and a system of guarantors to mitigate information asymmetries typical of pre-industrial economies. Additionally, the chapter discusses checks and balances designed to prevent corruption and abuse of communal funds. The paper argues that the proliferation of community-controlled credit markets prevented the formation of monopolies or oligopolies in credit supply.