Developing the ethical and solidarity-based finance in Europe in a concrete way
In june 2009, FEBEA federates 25 members based across 11 European Union and 2 EFTA countries. These 11 banks, 6 savings and loan cooperatives, 5 investment companies and 3 foundations can all together account for a balance sheet of 21 billion euros and have some 528 000 clients and shareholders between them. They have different legal forms but they all share the same concern for transparency and social and environmental utility.
In addition to being a place for exchanges and sharing experiences, FEBEA aims to create financial tools able to help existing European initiatives and encourage the growth of new initiatives in the field of alternative finance.
Creating alternative financial tools hand in hand
Up to today, FEBEA developped diversified tools:
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the guarantee fund "Solidarity Guarantee", managed bij Crédit Coopératif in France
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the investment fund "Solidarity Choice", managed by the Crédit Coopératif's asset management company (France)
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the financing company 'SEFEA" (Société Européenne de Finance Ethique et Alternative), European ethical and alternative financing company, managed by Banca Popolare Etica in Padova (Italy).
Working together towards a European dynamic
On top of these tools, the FEBEA has also set up several working groups such as the group named “Financing the South and fair trade”, and the group named “Microcredit” whose aims also are to create tools specifically designed for the issues they meet on a daily basis.
The FEBEA thus aims at bringing its support to solidarity financing, to entrepreneurs working on social and solidarity economy and who often find it difficult to get financed by the traditional banking system.
The FEBEA members exchange good practice and organize meetings amongst their social and solidarity economy networks. And their approach to ethical and solidarity finance is definitely European.