In Nexes, years ago, we decided that our money was not an objective but a means. A means of social transformation. That is why we became members of Fiare, among other financial entities.
Fiare is a cooperative bank in which all members have a vote. In mid-May, this year’s membership was celebrated. We had good results that will revert to the same cooperative: how? For example, last year, apart from being able to finance many projects, it also served to compensate for the effects that the increase in the EURibor had on housing credits.
During the year, the members can intervene by participating in the GITs (Group of Territorial Intervention). In other words, it is not just a question of voting, but of having a voice and being able to build from the bottom, which is why we participate in GIT Barcelona. We have mechanisms of participation to send our demands and reflections to the Ethics Committee or to the Board of Directors.
In addition, we are also involved in analysing the projects that require funding. The ethical and social committees assess the social impact of projects that request credits. The evaluations determine the possibility of receiving (or not) the requested funding.
At Fiare we know that there are sectors that have no positive impact and that is why we do not invest in them. The members and the managing body (the Committee on Ethics) make sure that this does not happen. In an effort to remain transparent, an annual impact report is published every year which details what has been done and its impact.