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Last update : January 2007
Background
Created in 2001, the European Federation of Ethical and Alternative Banks (FEBEA) is an
association under Belgian law based in Brussels.
Open to member countries of the European Union as well as applicant countries, it gathers
financial institutions whose aim is to finance social and solidarity-based economy. FEBEA
members can offer their expertise and financing to the entrepreneurs of a solidarity-based
economy (unemployed creating their own business, farmers starting up in organic farming,
director of insertion enterprises...), who often have difficulty in obtaining financing
from the traditional banking system.
Structure
FEBEA members promise to respect the following charter:
- Our aim does not amount to seeking profit alone
- To have political and economic independence
- To finance economic initiatives which strive towards the following goals: job creation, sustainable development, ethical and cultural diversity, international solidarity and fair trade
- To have a capital of at least one million euros available
- To have its principal place of business in the European Union extended to 22 countries
The FEBEA can also establish partnerships with financial and non-financial structures which have similar activities or objectives, but are not members.
Activities
The FEBEA is a place for exchange, sharing experiences and creating common tools to encourage the development of financial solidarity in Europe. These tools are very diversified:
- Mutual Guarantee Fund "Solidarity Guarantee": This Fund is intended to cover social and solidarity-based economy loans realized by the members and structures which are members of the fund and close to the FEBEA.
- Investment fund "Choix Solidaire": Choix Solidaire is available to everyone: private individuals, corporate bodies and save-as-you-earn schemes. Choix Solidaire is a solidarity fund invested up to 10% in French and European company solidarity securities. Its objective is to offer subscribers a socially responsible diversified investment with steady growth.
- Financing companies SEFEA ( European Ethical and Alternative Financing Company): Sefea offers its members financial and non-financial services to strengthen their own assets structure in order to respond to their clients' application for intervention and support. It achieves this through two operational tools: medium- and long-term capitalisation and financing. Sefea's actions are not simply limited to supporting already existing financial institutions. They also aim to promote the start up of new ventures in countries where ethical financing is in its infancy.
New developments
One of Sefea's objectives is to form the European Alternative Bank (BEA). With the assets structure of a bank and the expertise of Sefea and its members, the new organisation will be in a position to act as a true European investment bank for the social sector. It will also act as a unitary and influential spokesman with regard to international public institutions
