FESCOOP was founded in November 2016, after six years of intense activity in creating and developing the Portuguese ecosystem (i.e. NGOs; Associations; Cooperatives; SMEs; Universities; Schools and Government and Regulatory Entities) and the international Ecosystem (i.e. European Ethical and Solidarity Banking and Alternative Financing Entities).
The Cooperative objectives are to enable individuals and collective entities (i.e. cooperatives, NGOs, companies, etc) to allocate their savings/resources to social, environmental and cultural purposes, or in other words to place them at the service of the common good:
• Affordable funding for social and/or traditionally excluded sectors;
• Bailout of over-indebted families and companies;
• Support to social sector entities;
• Support for entrepreneurial projects that create jobs.
To achieve these objectives, FESCOOP will make ethical and social funding available through the creation and development of a new financial vehicle, with FESCOOP owning at least 3/4 of this vehicle’s equity, and providing value added services, that comprise the following items:
i. The provision of strategic consulting, management, information systems and financial advisory services
ii. Applications for funding;
iii. Support in the development of communication and marketing;
iv. Strategic digital positioning and innovation; v. Cooperative and/or associative accounting;
vi. Negotiating intermediation to make basic goods and services accessible at fair and sustainable prices;
vii. Financial education;
viii.Development of national and international seminars;
Gathering resources that enable the effective and efficient execution of the previous points.
FESCOOP is a cooperative for the development of ethical and solidarity finances within Portugal founded in 2017 with more than 100 members, more than 20 volunteer collaborators, and more than 30 national and international partners.