ner group makes plans for a credit union to finance its own values
In the middle of the ongoing European crisis, ner group is thinking fast forward as usual.
The group is working since a while on the draft of a credit union, a project that will allow the companies of the group to go on focusing on generating wealth and employment but maintaining the characteristic values of the Social Economy.
The current credit situation is affecting all businesses and the social economy is not, unfortunately, an exception. This has led to several projects remaining “in the drawer” and to missed opportunities. The restriction of credit from traditional banking – whose attitude is being criticized strongly from different instances all over Europe – has not helped either: companies, especially the SME, need cash flow to be able to innovate.
It is not ner group philosophy to stay and watch, but it’s much in ner DNA to take action. ner group companies are considering creating a credit union to enable them to finance new projects. The group includes 22 firms in which 1,714 workers work and with a 2013 turnover of 336 million euros, working in 60 countries to which it exports 71% of its production.
The formula being considered is that of a credit union with a minimum share capital of 4 million euros. Its resources come from the remnants of the group companies, in particular Ampo S.Coop.
Brave move as usual!