GfG is currently a registered purchasing and trading cooperative embedded in the Austrian civic society and is aspiring to found the first ethical financial institution early in the year of 2018. Originally an intellectual reaction to the systemic-financial crisis of 2008, a call for support led in February 2011 to the foundation of an association with the explicit goal of founding Austria’s first ethical bank. GFG, which evolved out of this association, was effectively founded in April 2013 and has since then grown to a cooperative of considerable size, currently counting approx. 5300 members and growing.
Today GFG’s constitutive vision to found Austria’s first ethical financial institution is in reasonable reach and a very active group of professionals, supported by many dedicated volunteers, is working to accomplish foundation by early 2018. In what will constitute an intermediary step, GFG is currently pursuing the foundation of an ethical payment institution (following GFG payment institution), which shall in due time be replaced by a full-fledged ethical bank. Parallel efforts have already resulted to the creation of a GFG Academy and a GFG Crowd-funding-platform, dedicated to the promotion of knowledge relevant to ethical banking/finance and to the support of ethical projects respectively.
GFG, herewith, aspires to become a socio-economic agent advocating within and outside the boarders of Austria for the use of money for the common good. In this sense, GFG is striving to step up next to other ethical banks across the world, hereby effectively joining an international movement promoting a systemic change and an underlying change of perspective in the individual and in societies pointing to a more mindful co-existence with our world.