La Finanza Sociale Che cos'è la Finanza Sociale e quali ... - Dolceta
La Finanza Sociale Che cos'è la Finanza Sociale e quali ... - Dolceta
La Finanza Sociale Che cos'è la Finanza Sociale e quali ... - Dolceta
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{{{What is Social Finance and what types of institutions does it involve?}}}<br />
Social Finance generates an inclusive prosperity and its primary goal is the creation and<br />
development of social capital that benefits all, particu<strong>la</strong>rly those who were otherwise excluded and<br />
neglected. Social Finance includes a range of organisations and institutions providing financial<br />
services to those who had no access to commercial finance. These organisations are generally<br />
independent of state authorities or public policy initiatives and their funding comes from many<br />
sources including: local investors, charities and charitable foundations, faith-based organisations,<br />
local governments, companies and various donors.<br />
Social Finance includes the following types of organisations:<br />
-* Credit Unions – which are co-operative, non-profit financial institutions whose members save in<br />
form of shares, which are then used for re-lending,<br />
-* Micro Finance Funds – providing small loans to small businesses and individuals without<br />
reliance on conventional col<strong>la</strong>teral and credit-rating,<br />
-* Mutual Guarantee Funds – which are associations of small and medium-size businesses that are<br />
pooling savings in order to borrow more,<br />
-* Community Loan Funds – usually owned and controlled by local communities and making<br />
capital avai<strong>la</strong>ble to community regeneration projects whose loans are often used to leverage<br />
additional capital,<br />
-* Community Venture Capital Funds – simi<strong>la</strong>r to conventional venture capital funds but dedicated<br />
to projects with certain social mission,<br />
-* Socially responsible Investment Funds – investing in companies with social or ethical mission.<br />
{{{What are Credit Unions?}}}<br />
Credit Unions are co-operative financial institutions privately owned and controlled by their<br />
members. They differ from commercial banks and other financial institutions by the fact that<br />
members who have accounts in the credit union are also its owners who have a right to elect board<br />
of directors in a democratic “one person – one vote” system regardless of the amount of money<br />
invested. Only members of a credit union may deposit or borrow money from it.<br />
Credit unions may be viewed as non-profit organisations, or as for-profit enterprises making profit<br />
for their members who receive it in the form of reduced interest rates on loans or as dividends paid<br />
on savings (which are usually taxed as ordinary income).<br />
Credit unions usually follow the principle “once a member – always a member”, which allows<br />
current membership to continue even if an individual no longer <strong>quali</strong>fies as a member (having<br />
changed a profession or moved outside the area). However they may have a right to expel a member<br />
who causes a financial loss or commits a crime. Also members who voluntarily terminated their<br />
membership may not be allowed to rejoin the credit union.