European Federation of Ethical and Alternative Banks (FEBEA) is comprised of 24 members across 11 European Union and 2 EFTA countries. They take on different legal forms (ethical banks, credit cooperatives, foundations) but they all share the same concern for transparency and for social and environmental benefits.
An ethical bank is a bank concerned with the social and environmental impacts of its investments and loans. Through their activity, credit unions and ethical banks promote social inclusion, sustainable development, the development of social economy and social entrepreneurship. Ethical finances put credit at the service of people and reinvest their profits in common objectives. They are deeply rooted in the territory in which they operate. Participation, transparency and social investment are the main principles of ethical baking.
FIARE-Galiza is the regional manifestation of FIARE (the Foundation for Investment and Responsible Saving), a foundation created in 2003 that carries out its financial activities through the company FIARE.SL and acts as a Spanish agency of Banca Popolare Etica, but is set to become a future credit cooperative. The aim of FIARE (and FIARE-Galiza) is to give financial support to the non-profit sector and to create real investment opportunities for the most socially and environmentally-minded savers. They finance economic activities which have a positive social impact, by giving support to social, ecological, cultural and humanitarian projects and to persons who cannot accede to traditional credit.
Relevance for TRANSIT
FEBEA is the European Federation of Ethical and Alternative Banks, whose aim is to develop ethical and solidarity finance in Europe, creating financial tools to support existing initiatives and encouraging the development of new initiatives in the field of alternative finance and solidarity-based economy.
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