• Fiare Banca Etica is a leading cooperative financial institution in Europe with more than 44,000 members between Italy and Spain and with a Spanish capital stock of almost 4 million euros.
• It operates at the service of social transformation through the financing of projects in the third sector, the social and solidarity economy and the promotion of a culture of financial intermediation.
• With this incorporation, CEPES has 29 member partners, the highest representatives of the Spanish Social Economy.
Madrid, December 16, 2020.- The Board of Directors of the Spanish Business Confederation of the Social Economy (CEPES) has unanimously agreed to incorporate Fiare Banca Etica as a full partner.
Fiare Banca Etica is a benchmark cooperative bank in Europe with more than 44,000 members between Spain and Italy. With a Spanish share capital of almost 4 million euros and savings of more than 175 million, it operates at the service of social transformation by developing and offering financial responses.
Its objective is to recover the social value of money. Thus, the savings deposits of people and organizations that share these principles are used to finance projects related to the social and labor insertion of people, agroecology, energy efficiency, education and culture, and fair trade, among others.
In 2019, the bank contributed 26 million euros in Spain to finance different projects for social and labor insertion, housing and education; In the months of the pandemic alone, it has already provided more than 37 million euros in credit to entities and companies in order to reactivate the economy.
The vice president of Fiare Banca Etica, Peru Sasia, points out, “that there are financial responses that, due to their knowledge, implementation and vocation, are capable of supporting the Social Economy is one of the most important factors for the consolidation and development of a economic space that is increasingly necessary for the construction of social justice. The incorporation of Fiare Banca Etica to CEPES is part of this commitment to mutual alliance that has been going on for many years, and which is not exhausted at the state level, but rather finds opportunities for collaboration at all levels, from local to local. respective European networks of Social Economy and Ethical Finance ”.
For his part, the president of the Spanish Business Confederation of the Social Economy (CEPES), Juan Antonio Pedreño, stressed that “the Social Economy is a competitive and transversal business model, we are present in all economic sectors, with companies from all the sizes ”. Pedreño stressed that "having Fiare Banca Etica among our partners helps us to endorse that there are other ways of doing business, in a responsible way and in which people prevail, also within the financial sector".
This adhesion consolidates the relationship between both entities, which previously signed a collaboration agreement in July 2019 with the aim of facilitating credit and financial services to Social Economy companies. This alliance allows both entities to generate a positive social and environmental impact through common needs and values.
About F iare Banca Etica
Fiare Banca Etica is a leading cooperative financial institution in Europe. Collect savings from individuals and organizations at the service of credit for companies that transform the world, with their values and their social and environmental impacts. It offers day-to-day banking services for companies and individuals. Grupo Banca Etica includes Etica sgr, asavings management company that exclusively proposes ethical investment funds, and the Ethical Finance Foundations in Spain and Italy, which promote study and awareness initiatives in favor of critical education in finance. www.fiarebancaetica.coop .
