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Last update: September 2004
Background
Clann Credo Ltd (formerly known as the Credo fund) is a loan and equity investment fund based in Dublin, Ireland. Its "Social Dividend Report Card" breaks down its investments into six categories: Jobs, Community Infrastructure, Affordable Housing, Environment & Health, Community Enterprise and Community Banking.
As the Clann Credo Ltd puts it, "Our hope is, that we will continue to be a meaningful response to the needs in the Ireland of today and tomorrow, a beacon signalling positive change, a model of whole-life economics."
Structure
Clann Credo's structure and services are kept under review by the Board of Directors, on the advice of the Chairperson and the Chief Executive and are changed and adjusted as appropriate to best serve the organisation in achieving its goals.
Activity
Clann Credo designs and promotes innovative Social Finance products and services; contributing to inclusive prosperity and developing Social Capital in a way that benefits the whole community. To date the organisation has made over 80 Socially Directed Investments nation-wide.
Clann Credo investments are made primarily in the form of loans.
Clann Credo Social Investment may take the form of cash, debt or equity.
New Development plan
In April 2003, the Board of Directors adopted a three year Business & Development Plan which involved key decisions on future strategies, targets and actions. These decisions include:
- Continued emphasis on both the promotion of Social Finance and the Practice of Social Investment
- Adoption of a new promotion and marketing programme
- 20% of the available Social Investment Fund will be retained in cash
- 80% of the available Investment Fund is targeted for socially directed investment
- Joint Initiatives and Partnerships will be further developed
Key Figures
Clann Credo has established a Social Investment Fund of Eur 8.7 million.
Since inception the cumulative value of Socially Investment stands at 5,7 million euros. The level of projected new Socially Directed Investment over the next three years is: Eur 1.3 million in 2003, Eur 2 million in 2004 and Eur 2 million in 2005. Realisation of this Plan requires Eur 6 million in new funds in the period and this intake of new funds is planned.
