The Cooperative for Ethical Financing will be the sole owner of the Ethical bank, i.e all of the cooperative members will be the co-owners of the bank. The primary goal will be to invest in community development through projects that are financially, socially and environmentally sustainable.
Why an ethical bank?
People before profits
We believe that banks should serve their clients and together with them create added value for their community.
You do not pay for services
Ethical bank will have all the standard banking services, but without the cost of opening and using bank accounts, internet and mobile banking, and any other fees that are not a direct cost to the bank.
Interest rates up to 4%
Inspired by other ethical banks, we want to operate in the direction of a development bank, and we will therefore offer our members development interest rates of up to 4%.
A bank owned by its clients
Ethical bank will be in 100% ownership of its clients, individuals and organizations, each of whom has the same voting rights.
We believe that you should know how the bank manages your money, so all financial flows and distribution of money will be publicly available to our clients.
No consumer loans
We do not support non-purpose consumer loans, and so we will not allow minuses on current accounts.
Investment policy of the ethical bank
Ethical bank will be a bank for individuals and organizations.
All projects that are evaluated positive according to criteria of financial sustainability, ecology and social impact can apply for funding. The ethical bank's investment policy is based on projects related to:
- agriculture, especially organic,
- renewable energy sources,
- small and medium-sized enterprises oriented to production, processing and professional services,
- digitalization and new technologies,
- social entrepreneurship,
- beginner entrepreneurs
In the case of individuals, the ethical bank will offer favorable credit programs to meet basic living needs, such as:
- purchase and adaptation of real estate for life,
- purchase of household appliances,
- needs of education,
- healthcare, etc.,
- but they will not offer non-purpose consumer loans, nor will members be able to enter the allowed minus in the account.