In the Basque Country there is the Fundación Inversión Ahorro Responsable, FIARE, which was created in 2003 after the reflections of 52 organizations from the third sector and the social economy.
Its objective is to create a credit cooperative at a state level based on ethical banking criteria promoted by citizens and the third sector using banking activity to transform society, investing only in social, environmental, cultural, humanitarian and international cooperation projects.
In order to achieve its objectives, FIARE has been established as a Spanish territorial agent of the Banca Popolare Etica from Italy. Since December 2007, FIARE has an office in Barcelona where, in coordination with the Banca Popolare Etica it offers its financial services.
Any individual, entity or administration can purchase the equity of this credit cooperative that is planned to be established in 2011 and thus participate in the decision making processes of the bank.
FIARE offers responsible savers the option of subscribing to several savings products to finance the sectors in which it invests as demand or time deposits.