The start

In 1968, the concept of Oikocredit was both an innovation and a controversy. With major world unrest over issues including South Africa's Apartheid and the Vietnam War, church members wanted assurance church investments were promoting peace and positive development. The idea of an ethical investment channel for churches and related organizations was put forward, with the intention that investments would provide credit to enterprises that support the poor. While the concept of loans, instead of charity was a controversial notion for some, the wheels of Ecumenical Development Cooperative Society (then, EDCS) began to turn.

The 70s

In EDCS’s (Oikocredit) first decade, the organization faced difficulties as it tried to gather enough church investments to begin its operations. The idea of lending to organizations which helped the poor gradually gained support, and by the end of the decade, EDCS had invested in its first projects: one in India, and one in Ecuador. Oikocredit still operates in both countries today.

The 80s

EDCS (Oikocredit) made many advances in the 80s, extending investment opportunities to individuals and turning over its first operating profit. By the end of the decade, EDCS had paid out its first dividend to investors and had approved its 100th loan.

The 90s

The 90s marked EDCS's (Oikocredit) first fair trade loan, and a new Managing Director took the reins in 1994. The Asian Financial Crisis struck, putting serious economic pressure on the region, but EDCS was still able to pay out a dividend to investors.

The 00s

Tor G. Gull stepped in as Managing Director, and remains at the helm today. The UN adopted the millennium goals, which include many of Oikocredit’s aims such as gender equality and contribution to poverty reduction. The close of the decade sees Oikocredit awarded CGAP’s social performance award for transparency and innovation: a major industry honour.

Beyond

35 years since Oikocredit began, we are still dedicated to empowering the poor with access to credit and fair financial opportunities.
Social justice through financial inclusion remains Oikocredit’s ultimate goal and we pursue that goal by investing in MFIs, cooperatives and SMEs that put an emphasis on social results, as well as financial performance. Environment, fair trade, gender balance and education are also considered in our partner selection, and are at the heart of our mission: to contribute to a fair and just world.
Today, Oikocredit is proud to be a large private investor in Africa, Asia, Latin America and Eastern Europe, with 800 project partners in almost 70 countries.