Constructing a Nationwide Ethical Banking System with International Scope
Coop-57 and Project Fiare work together from different perspectives in order to construct a banking system ethical, civic and cooperative. Both projects propose instruments for the active citizenry that wants their money to be used in social transformation.
One of these, Coop-57, accepts investment in the social capital which in turn they lend to their partners afterwards. That is, they use a formula apart from the banking activity, in order to articulate the savings of all those partners compromised, who accept the assumption of risk that a contribution to the social capital of a cooperative represents.
Project Fiare, with the support of Banca Popolare Etica, an ethical bank and cooperative referential in Europe, offers financial intermediation services with the same guarantee and under the same rules as any other financial entity but with completely different objectives: the transformation of our societies and the utilisation of credits for the service of social justice. Both entities participate of the will to create the first Cooperative of Ethical Bank in Europe.
Both projects are complementary to each other making possible the option to finance small projects with great social potentials (Coop 57) or for larger projects with superior needs (FIARE). That is why they construct an ethical bank which is based upon participation and transparency, the two values that both entities share since the beginning.
With different tempos but with determination both projects are expanding throughout the Iberia peninsula. There where social entities are organizing in order to promote their ethical and solidary financing system, Coop 57 or FIARE offer support and open doors to new associates.
The transforming potential of these initiatives and their capacity to offer new services day by day depends on the implication that the society is willing to contribute. For this reason it is very important that every one of us who are fed up with the traditional banking system and want our money to be used differently and in a social direction, become partners of the ethical banks.
To start placing our savings in the ethical banks is an important step but being partner is the essential contribution in this moment. Coop 57 and FIARE allow us to start from 300 Euros. The step is very easy and it will become easier from the moment we make them know about our interest.
Just as an African saying explains: “If you are not going too far, you can go alone; but if you want to go a long way, it is much better to have company.”
Savings and Ethical Investment Chart
Banks where we can invest
| Type of instrument
| Characteristics
| How are my savings used
| Web site of the bank
|
| COOP 57 explained on this page | Fixed term deposit | Minimum amount: 300,50 Euros. Term: 1 or 3 years, renewable | For social economy projects (cooperatives, associations, foundations...), with a high social content. | http://www.coop57.coop |
| Fiare explained on this page | Fixed term deposit | Minimum of 200 Euros, funds return of 2,70% in 2 years. Partner contributor since 300. | For projects with social value or ecologic already on march or starting. For basic needs of individual people. | http://www.proyectofiare.com |
| Triodos Bank is an ethical international bank of Nederland’s origin. | Deposit/Ecodeposit | Amount: since 500 Euros. Fixed term: one year or more. Interests: since 4,2% annual. | Financing only enterprises and initiatives with clear social objectives, environmental, cultural. Besides, with each Ecodeposit contracted there is the compromise to plant a tree in a forest of sustainable management. | http://www.triodos.es |
| Oikocrèdit collects funds for investment in the Nederland’s ethical bank Oikocredit International. | Terms investment. | Amount: 200 Euros for each share. Minimum term of 1 year. | Money invested in Oikocrèdit International is used to give credits for collectives and local organisations of countries in development process in order to support productive initiatives. | http://www.oikocredit.cat |
| Banca Ética de Badajoz | Social savings. | Long term. | For basic needs. | http://www.badajoz.org/bancaetica |
| Enclave net for alternative financings. | Solidary deposit. | Various terms. | Projects presented by partners. | http://www.enclau.org |
| Maderas Nobles (noble woods) of Sierra de Segura is a sustainable forestry enterprise. | Batch of trees. | Amount: minimum 3.690 Euros (10 walnuts). Profitability depending on the wood market. | By purchasing trees from an ecological and socially managed plantation and by selling, at latest, after 20 years (when wood can be obtained). | http://www.maderasnobles.net |
| Ideas, solidary credit. | Loans for Ideas cooperative. | Anual benefit in concept of interests compensation between 0 and 3,5% maximum, to agree with the lender, and according to the type of loan, terms of 1, 3 or 5 years. Full payment in advance is possible. | To cooperative projects of the south. . | http://www.ideas.coop/ |
CAST
Ámbito territorial de las opciones de ahorro e inversión éticas en el estado español (más datos en los cuadros de arriba)
Coop57 | Projecte Fiare | Triodos Bank | Oikocredit | |
| Catalunya | Oficina en Barcelona | Oficina en Barcelona. Atención al público en Sabadell y Sant Cugat | Oficina en Barcelona | Oficina en Barcelona. Atención al público en Tarragona, Mataró, Girona, Tàrrega |
| Madrid | Formulario web | Oficina en Madrid | Oficina en Madrid | |
| Euskadi | Oficinas en Bilbo, Donostia, Vitoria-Gasteiz | Oficina en Bilbao | ||
| Nafarroa | Oficina en Iruñea | |||
| Andalucía | Formulario web | Sí (cooperativa ideas) | Oficina en Sevilla | Oficina en Sevilla |
| País Valencià | Sí (asociación enclave) | |||
| Aragón | Oficina en Zaragoza | Galiza | (en proyecto) | |
| A distancia | Sí | Sí | Sí | Sí |
Más información
Fets http://www.fets.org
Rufas http://www.economiasolidaria.org/finanzas_eticas
Congrats , very good post.