Self Financing

 

Due to practical experience it is propose to create a social self-financing cooperative network in order to maintain sustainable self-financing system. Concrete the creation of a saving, donation and project funding cooperative is meant, which is crucial for a self-managed and interest free integral cooperative that functions through assemblies.
Why do you need a self-financed cooperative network?
We are talking about the first a banking structure in Greece (in form of a financial services cooperative), which will operate interest-free. This means that loans and deposits do not generate interest, that is to say, money will not generate any money. Beyond state law: subverting the law and prioritizing people before bureaucracy. Collectives, projects or assemblies that do not have a Tax Identification Number (TIN) can also participate in the project. This promotes self-management beyond the state and capital as well as participation in assembliess and working groups for all members.
Administration of members and capital
We recommand to set an entry fee, which can which can be defined by the assembly of the cooperative.For example, in the CIC the entry fee (single payment) for individuals is 15 Euro and for Groups 51 Euro.This payment of the membership fee is the first step to provide a deposit or to submit a project.
Contributions and Guarantee Fund
Any person becoming a member, can make deposits and/or donations and submit projects to be funded. There is no minimum or maximum contribution for making deposits or for donations.
A deposit is a payment, in this case a bank transfer, that is made to an organization that holds it until the depositary needs it.
The deposits made are used to finance self-managed individual or collective projects aiming at the common good and respectful to the environment. 
 We propose: 
 1/3 is used to lend to associate’s projects 
 1/3 is kept as liquid funds 
 1/3 is deposited in “secure” projects 
 
A donation is a monetary payment to an organization, usually non-profit, to help sustain it. How the donations are used: Self-management and sustainability of the project, so that the needs of people involved are met.
Withdrawal of the savings
When members want to withdraw their savings, each month may do so for a specific amount, which is calculated through a chart. The next month the amount that can be withdrawn will be recalculated according to the remainder in the account. Any exceptions will be approved at the meeting.  It is recomanded that people who wants to abandon use their monetaristic logic, who may request only to withdraw their saving partially or in ways beneficial to society. It could be also be possible and healthy for the financial situation of the cooperative if these members accept to receive their savings in social currency or obtaining services.
Decisionmaking
Decisions that affect all members are taken in meetings and get approved via  CONSENSUS among all participating members. An obstruction of a proposal must be justified and must be carried out in person at a meeting.
Project admittance process
The projects to be financed must meet certain political and ecological social criteria previously agreed  before and needs to be strategically appealing for social transformation (productive or non-productive).
Admittance criterias are similar to the principles and criterias of Integral Cooperatives regarding autonomous associates.
In principle there are no credits for personal consumption purchases. This part would be covered through exchange, social currency or  interpersonal donations (without the need for the structure of the financial cooperative).
Project Approval Procedure
a- A project plan is presented to the project commission 
b- It is analyzed and conclusions are drawn
c- The proposal is presented to the general assembly
b- The commission presents the conclusions drawn from the analysis of the Project Plan.
c-The general assembly decides whether to accept financing the project or if needs to be revised to receive funding in the future.
Engagement in progressive decentralization
One of the goals of the project could be to increasingly replicate the same system locally, so that every neighborhood, town or city can start generating their own assembly, redirecting the financial resources of their local members to local projects.