Crédal is a Belgium alternative financing cooperative founded in 1984 with a specific social vision: to promote a fairer society and to reinforce social cohesion. Its main objective is to offer savings products for social purposes and to support social projects through credit and counselling. In December 2015, Crédal had 2.673 partners (73% natural persons). Crédal offers credits and risk financing for organizations in the area of solidarity finance such as: socio-professional inclusion in the labour market, fair trade, workers’ cooperatives, medical organizations with a social approach, and help for the homeless or social housing. Besides, Crédal grants professional microcredit for self-employed people who do not have access to banking facilities and personal microcredit (addressed to low-income people to support needs as means of transport (cars, etc), trainings or health.
Crédal is one of the founder members of the European network FEBEA - European Federation of Ethical and Alternative Banks-, a non profit organisation incorporated under belgian law, created in Brussels in 2001 by Crédit Coopératif (France), Caisse Solidaire du Nord Pas-de-Calais (France), Crédal (Belgium), Hefboom (Belgium), Banca Etica (Italy), TISE (Poland) and La Nef (France).
For more information about the European network (FEBEA): http://www.transitsocialinnovation.eu/resource-hub/credit-unions
Legal restrictions to public fundraising projects of non-banking institutions
Change on the business model of Credal: From marginality to becoming an alternative in finances
Interest rate cuts in the lending business by the European Central Bank after the 2008 financial crisis
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