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Last update: November 2006
Nef is a solidarity-based finance cooperative. Nef uses money as a solidarity tool to
link up savers and borrowers and, to establish transparent relationship between the
different stakeholders. This can help growing an economy respectful of the human being and
its future.
Nef has been developing its activities for 15 years and has been approved by the French
Central Bank.
Today, Nef gathers around 15 000 co-operators and savers who want to use their money in an ethical and altruistic way, and borrowers with innovative initiatives that are respectful of human being and the environment.
Background
This solidarity-based company was created about 30 years ago when a handful of men and women wanted to experience bonds of mutual aid and solidarity through money and to place the people at the heart of economical and financial decisions.
NEF was created in 1979 with the aim of organizing and developing, in a fraternity spirit and to the end of social utility, the relations between the members, notably by making more conscious the use of money.
The banking regulation of 1984 lead the managers of the
association to propose to its members to set up a financial society: In
1988, the finance company of the NEF, a solidarity-based cooperative, was
created. Since its creation, the company is approved by the French Bank.
Structure
The Nef is a public limited cooperative with variable capital which functions on a collegial mode with a supervisory board (to date formed of 12 members) and a Directoire (formed of 2 members) as well as a permanent team of 30 employees and a network of 42 voluntary corresponding members spread all overFrance.
Activities
Within the framework of its banking approval, the NEF has a double activity of savings and credit.
Savings:
NEF offers to its members the possibility to invest in different savings products: shares, term deposit accounts on which the money is blocked for a period between 25 months and 10 years, and bank accounts managed in partnership with Crédit Coopératif. All Nef products have been awarded by Finansol (collective regrouping organisations of the solidarity finance sector in France).
Credit:
Nef grants professional and associative loans in various sectors:
- Ecology and Environment: organic and biodynamic agriculture, transformation and selling of organic and natural products, protection of the environment, renewable energy, eco building etc.
- Social and solidarity-based development: social housing, local development and rural tourism, craft, international solidarity and fair trade, health etc.
- Training and culture: innovative educational and training methods, artistic activities, individual development, publishing etc.
Nef also grants loans to the private citizens having projects of eco-construction (Nef Immo), eco-renovation or ecological investments (Nef Eco).
In order to be as transparent as possible, NEF publishes each year the list of the loans they have granted, with a presentation of each project as well as the contact details of the borrowers.
Nef Charter is the reference document that sets up the values and principles of action of the NEF shared by all shareholders: ethics, transparency, solidarity, respect of the human being and independence of mind.
NEF’s co-operators and partners participating in the project are most of the time individuals, but there is also a great number of institutions and networks of the social and solidarity-based economy, who participate: Crédit Coopératif, MACIF, France Active, Réseau Emmaüs, Fédération Biocoop, housing associations, A family-a roof, Fondation pour le Logement Social, Accueil Paysan, Bio-Dynamic Culture movement, Nature et Progrès, Confédération Paysanne, FRAPNA, Fondation Charles Léopold Mayer, ATTAC, Amnesty International and Greenpeace local groups, WWF, Fondation Raoul Follereau, Jardins de Cocagne, CNIID, Revue Silence, Out of Nuclear power network, etc.
Today, there is a growth of 200 new Members per month.
Key Figures
EUR |
2004 | 2005 | Evolution |
| Equity Capital | 7,200,000 | 8,700,000 | +21% |
| Number of shareholders | 11 315 | 13 873 | +23% |
| Saving | |||
| Collected saving | 22,000,000 | 26,000,000 | 18% |
| Crédit | |||
| Gross amount of outstanding loans | 23,700,000 | 28,400,000 | +20% |
| Number of loans granted since the beginning | 1812 | ||
| Number of outstanding loans | 257 | ||
| Number of loans released during the year | 159 | 178 | +12% |
| Amount released in the year | 7,900,000 | 9,130,000 | +16% |
