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Oikocredit’s ethos of delivering maximum social return on investment stems from its unique history as a faith-based initiative.
The idea of Oikocredit stems from a 1968 meeting of the World Council of Churches. In those unsettled times, young politically engaged church members from a wide variety of denominations called for an ethical investment channel that would support Christian teachings of peace and universal brotherhood.
The Oikocredit Ecumenical Development Cooperative Society was established in 1975. From the very beginning, our goal has been to encourage social justice by giving credit to productive enterprises run by disadvantaged people.
At last, churches and church-related organizations had their own alternative investment channel. Nonetheless, we had an unexpectedly difficult start. Many still felt it was unethical to lend money, rather than give charity. Others shied away from investing the church's money without maximizing the financial return.
However, individual church members throughout Europe believed in the concept and launched support associations. Today, these support associations continue to mobilize the largest portion of our member capital.
In time, our project partners themselves proved the viability of Oikocredit. Their remarkable repayment rate and proven social impact remain our greatest asset.
| DID YOU KNOW? The World Council of Churches is the broadest and most inclusive expression of the ecumenical movement, bringing together 349 churches, denominations and church fellowships in more than 110 countries and territories throughout the world, representing more than 560 million individuals. |
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