Provides cooperative financial services for social and solidarity projects.
Financing often involves advancing subsidies and issuing bonds, specific amounts are undisclosed.
**Summary of Coop57** Coop57 is a cooperative financial services organization in Spain, dedicated to financing projects in the social and solidarity economy. Founded in 1995 in Barcelona, it operates as a financial intermediary, collecting savings from citizens and channeling them into initiatives that promote employment, solidarity, and sustainability. **Focus Areas:** - Financing projects in the social and solidarity economy. - Supporting cooperatives, associations, foundations, and other entities in the social economy sector. **Financial Resources:** - Resources come from its members, who are part of the cooperative's ownership structure and participate in decision-making processes democratically. **Typical Project Financing:** - Projects often involve advancing subsidies to organizations awaiting government payments, and typical investments include acquiring goods, machinery, or building infrastructure to increase productive capacity and generate jobs. - Specific project financing amounts are not typically disclosed, but projects like La Borda, a housing cooperative in Barcelona, have been funded through issuing bonds (e.g., 865 bonds of €1000 each). **Criteria for Funding:** - Projects must align with the social and solidarity economy, promoting employment, cooperativism, and sustainability. - Organizations must be part of the cooperative's membership to receive financing. **Recent Projects:** - La Borda, a housing cooperative in Barcelona, with a novel cooperative ownership structure. - Various projects in regions like Asturias and Mallorca, supporting local economic transformation and social initiatives. Coop57 is a member of the European Federation of Ethical and Alternative Banks and Financiers (FEBEA), emphasizing its commitment to ethical and solidarity-based financial practices.