Cooperative governance at ZEF

The Cooperative for Ethical Financing (ZEF) operates under Croatian cooperative law and the seven foundational principles of the International Co-operative Alliance (ICA). Our goal is not profit extraction for outside shareholders, but building ethical financial infrastructure in service of our members and local communities.

To make this real, our internal organization must ensure that members - not capital - make the key decisions. That is why every ZEF governance mechanism is shaped around one principle: economic power does not translate into political power inside the cooperative.

1 member = 1 vote

Whether you have paid the basic membership stake of EUR 331.81 or additional membership stakes worth thousands of euros - your vote at the ZEF General Assembly counts the same as anyone else's.

Foundation

The seven cooperative principles

Our governance is deeply rooted in the seven cooperative principles adopted by the International Co-operative Alliance. They are the practical framework that turns our ethical values into everyday practice.

Voluntary and open membership

Cooperatives are voluntary organizations, open to all persons able to use their services and willing to accept the responsibilities of membership - without gender, social, racial, political, or religious discrimination.

Democratic member control

We are a democratic organization controlled by our members, who actively participate in setting policies and making decisions. At ZEF this means one vote per member at the General Assembly, regardless of stake size. Elected representatives are always accountable to the membership.

Members' economic participation

Members contribute equitably and democratically control the capital of their cooperative. The basic membership stake at ZEF is EUR 331.81 and equal for everyone. This ensures that people - members - benefit from the cooperative's operations, not external shareholders.

Autonomy and independence

Cooperatives are autonomous, self-help organizations controlled by their members. When we enter into agreements with other organizations, including the state, or raise capital from external sources, we do so on terms that ensure democratic member control and preserve our cooperative identity.

Education, training and information

ZEF continuously educates its members, elected representatives and collaborators so they can effectively contribute to the cooperative's development. We also inform the wider public about the values and benefits of the cooperative model - this Knowledge Base is one such effort.

Cooperation among cooperatives

Working together is the strongest strategy to empower members and build a stronger cooperative economy. ZEF cooperates with local, national and international cooperative structures - including the European Ethical Bank (EEB) initiative.

Concern for community

Cooperatives are community-minded. ZEF works for the sustainable development of local communities through member-approved policies, investing locally and supporting projects that create wider social impact.

The bigger picture

ZEF and the European Ethical Bank

Our local cooperative model is part of a wider European initiative to build ethical banking infrastructure. Together with cooperatives from Italy, Slovenia and other countries, ZEF is one of the founding participants in creating the European Ethical Bank (EEB) - a banking system in which cooperative principles are embedded in the architecture, not just the marketing.

On this page

• The seven cooperative principles
• ZEF and the European Ethical Bank