Last update: 06/02/2018


In addition to SEFEA, collective financing tools have been set up by FEBEA members to promote the development of a better, more inclusive and sustainable society, especially in areas of the economy that FEBEA members identify as key or where the ethical and solidarity finance needs to be developed further. Several financial tools from FEBEA are currently operational and are participated by SEFEA sc.

CoopEst has been created in 2006 by key European players of social finance in Europe, together with the International Finance Corporation and the European Investment Fund, to promote both social and economic development in Central and Eastern Europe. CoopEst offers various financial services to financial intermediaries (microfinance institutions, cooperative banks, mutual associations) of Eastern and Central Europe. The total portfolio is approximately € 40 million.

Sectors: microfinance institutions (MFIs), cooperative banks, credit unions, mutuals, microfinance banks.
Main products: Financial facilities: medium - and long-term, and subordinated loans, qualifying as quasi-equity.

CoopMed is an innovative financial tool operating in the Mediterranean Region through the financing of financial intermediaries such as microfinance institutions, banks, saving and credit unions, or any other legal form that provides financial services to entrepreneurs, micro, small and medium enterprises (MSME) that have limited or no access to the traditional banking system. CoopMed will invest in financial intermediaries: banks specialized in financing the SMEs, cooperative banks, saving and credit unions and financial cooperatives, microfinance institutions or funds, ethical banks, mutual insurance companies.

Main products: Financial facilities, medium- and long-term, and subordinated loans, qualifying as quasi-equity. 


FEFISOL SICAV-FIS was established in July 2011 to provide debt and equity financing to African Microfinance Institutions (MFIs) and Producers’ Organizations (POs). Sectors: Microfinance Institutions (MFIs) and Producers’ Organizations (POs). FEFISOL serves more than 20 organizations with a total portfolio of over € 8 million.

Main products: Medium – long term financing and technical assistance.



The « Choix solidaire » Sicav

Choix Solidaire is a SICAV under French law, which is socially responsible and specifically supports solidarity. It invests between 5% and 10% of its portfolio in French and European non-listed solidarity companies, so as to help them develop. Most of the Sicav is managed according to criteria that are both financial and non financial, i.e. it gives priority to the actions and obligations of companies within the eurozone that have an active social and environmental approach.

Choix Solidaire was created in 2002 in order to finance solidarity companies that were close to the FEBEA. It is managed by Ecofi Investissements, the Crédit Coopératif’s trust company.

The 18 solidarity establishments concerned by this project work on the following solidarity and alternative sectors:

  • Micro-finance and solidarity finance (ADIE, NEF, Caisse Solidaire Nord-pas-de-Calais)
  • Non-profit making retirement homes (Pierre Angulaire)
  • Health and social work (Bank für Sozialwirtschaft)
  • Social housing (Habitats solidaires, Chênelet Insertion, SCIC Finantoit)
  • Support to starting up a company, and follow up (Boutiques de Gestion de Paris IdF, Garrigue)
  • Disability (Websourd)
  • Renewable energy (Enercoop)
  • Fair trade (Alter Eco, Artisanat SEL, Max Havelaar, Ethiquable)
  • North-South development (Acted, GRET)

Since its creation, four members of FEBEA have used this tool, which has helped to support their development. The BFS and the Caisse Solidaire du Nord-Pas-de-Calais remain on the portfolio of the SICAV Choix Solidaire.



Solidarity Guarantee

The "solidarity guarantee" is a mutual guarantee fund set up in 2002 on behalf of FEBEA by Crédit Coopératif, which is also its depositary.

A guarantee fund does not have a legal entity. The objective of the fund is to guarantee credits but also any other commitment, in particular when made in writing to the beneficiaries of the fund by any financial establishment approved by FEBEA, both in France and abroad.

The fund’s guarantee is obtained after approval by the decision-making bodies, via the payment of a security deposit. The fund is made of:

  • All the security funds provided by the beneficiaries, mutualised between them (Section A)
  • Allocations from any public or private organisation, obtained for its development, and mutualised with the funds of Section A
  • Plus the so-called “sponsorship” security deposits, provided by sponsorship organisations to support their counter-guarantee, not mutualised between them and managed by separate conventions.

Internal regulations ratified by FEBEA and Crédit Coopératif regulate the operations of the mutual guarantee funds, as well as separate conventions.