EthicCapital
Credit Union

November 5, 2014

EthicCapital cooperates with Kiva

Since August 29, 2014 EthicCapital cooperates with Kiva as a Field Partner. This organization from the USA supports Micro Finance Institutes and NGOs in funding their credit business. The Field Partners publish profiles of individual borrowers with a description of the person and the use of the credit on the website www.kiva.org. Interested people all over the world can read those profiles and lend a small or big amount of money to the borrowers they want to support. EthicCapital stands between the lenders and the borrowers, that is we receive the provided money and pass it on to our accordant borrowers. Later, we collect the repayment and give the money back to the lenders via Kiva.

In October EthicCapital's first borrower profiles went online. Thanks to lenders from all over the world, they were fully funded within four days only. We were very glad it worked out so fast and we hope it will go on so well. We and the Kiva operators would like to initiate more ecologically advantageous "green loans" concerning organic agriculture, renewable energy, recycling etc. Now we are looking for practical ideas on that issue, suggestions are welcome!



September 30, 2014

Annual General Meeting for Financial Year 2014

On September 26, 2014 our annual general meeting took place. The location was the winery of our member Iago in Chardakhi. The 2013 financial figures were reported as well as a preview on the future activities of our credit union. Afterwards, we had the opportunity to taste some specialities from the kitchen and the wine cellar. Iago showed his wine cellar and explained the traditional vinification in qvevri.



February 10, 2014

Annual General Meeting for Financial Year 2013

The annual general meeting of EthicCapital credit union for the financial year of 2013 took place in our new office on January 28, 2014. An earlier date had to be postponed because of the relocation. Thirteen present members and interested people discussed the following topics:

-present status of the credit union

-board's financial figures report

-challenges such as the need to increase equity

-complications due to severe currency fluctuations

-approaches to minimalize risks and for an ongoing sustainable development

-examples of concrete projects

It was followed by interesting chat and get-together. The attenders liked the new office rooms and were glad about the union's visible development.

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© EthicCapital 2014