Towards the creation of an ethnic european cooperative bank

La Nef was created in 1979 by a small group of men and women who wanted to test and develop a system of financial solidarity. The association for La Nef rapidly changed into a co-operative, in keeping with new banking laws. In 1988, its 650 co-operators (members) founded the co-operative financial company of La Nef, which today has 20,000 members and carries out the dual function of collecting savings and granting loans. Its loans are intended to support the creation and development of professional activities and associations which will bring social and environmental benefits. La Nef is preparing itself for a new move : aided by an Italian and a Spanish partner, it intends to create an ethnic European co-operative bank. The governance and organisation of such a structure, existing in three countries and with about fifty thousand members, constitutes a totally new challenge.