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18-11-2008

Oikocredit becomes one of the latest members of Churches Together in Britain and Ireland

Oikocredit was established as an initiative of the World Council of Churches in 1975. Churches can now be proud of the success of Oikocredit and its unique contribution to grassroots economic development, through investment in the enterprises of people who are poor. Globally, Oikocredit's microfinance partners alone reach 12.2 million people with loans for development. After 33 years Oikocredit continues to inspire churches and individuals to invest part of their savings in the enterprises of disadvantaged people.

And the need is greater than ever as demand for fair finance keeps growing year-on-year. At the same time Oikocredit has repaid every penny to investors who have redeemed their investment, so the poor have turned out to be a safer investment than some critics initially envisaged. Oikocredit has created through its own local staff in developing countries a pipeline for economic justice, channelling much needed investment money from the Global North to the South.

But how can Oikocredit maintain this flow of investment for the future? How can they provide a simple way for people in parish churches to engage with the idea of Oikocredit and social investment?

A representative was appointed in October 2007 to encourage investment from Britain and Ireland, which has largely been untapped by Oikocredit. With just one member of staff, resources are thinly spread. So Oikocredit was delighted to become a body in association with Churches Together. This provides a bridge into the parish networks, where Oikocredit hope they may stimulate interest in finding out about Oikocredit and fair finance through parish groups. Oikocredit's UK representative, Patrick Hynes said:"Oikocredit provides an ecumenical opportunity to work together on our shared Christian mission of seeking economic justice for all. Through Oikocredit, people are empowered to work their way out of poverty, and we are all empowered to stand in solidarity through our investment".

Please contact the Oikocredit office in the UK for details of Oikocredit's social investment opportunity. Or if you have ideas to share of how to get Oikocredit known in your parish, diocese or region, Patrick would also be grateful to hear from you.

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