COOPERATIVE FOR ETHICAL FINANCE

BUILDING
A GOOD
ECONOMY
TOGETHER.

814 members. An unbreakable network.

CANOPY - visible

Cooperative system

Like pedunculate oaks whose roots physically graft into a shared system, ZEF's members, projects, and sections form a living network that shares resources, knowledge, and energy.

NETWORK LAYER - connectivity

Foundation

The seven cooperative principles

Our governance is deeply rooted in the seven cooperative principles adopted by the International Co-operative Alliance. They are the practical framework that turns our ethical values into everyday practice.

Voluntary and open membership

Cooperatives are voluntary organizations, open to all persons able to use their services and willing to accept the responsibilities of membership - without gender, social, racial, political, or religious discrimination.

Democratic member control

We are a democratic organization controlled by our members, who actively participate in setting policies and making decisions. At ZEF this means one vote per member at the General Assembly, regardless of stake size. Elected representatives are always accountable to the membership.

Members' economic participation

Members contribute equitably and democratically control the capital of their cooperative. The basic membership stake at ZEF is EUR 331.81 and equal for everyone. This ensures that people - members - benefit from the cooperative's operations, not external shareholders.

Autonomy and independence

Cooperatives are autonomous, self-help organizations controlled by their members. When we enter into agreements with other organizations, including the state, or raise capital from external sources, we do so on terms that ensure democratic member control and preserve our cooperative identity.

Education, training and information

ZEF continuously educates its members, elected representatives and collaborators so they can effectively contribute to the cooperative's development. We also inform the wider public about the values and benefits of the cooperative model - this Knowledge Base is one such effort.

Cooperation among cooperatives

Working together is the strongest strategy to empower members and build a stronger cooperative economy. ZEF cooperates with local, national and international cooperative structures - including the European Ethical Bank (EEB) initiative.

Concern for community

Cooperatives are community-minded. ZEF works for the sustainable development of local communities through member-approved policies, investing locally and supporting projects that create wider social impact.

What is a cooperative?

Read the full article on cooperative governance at ZEF and how the 7 principles of the International Co-operative Alliance shape our practice.

SOIL: 7 INVESTMENT

7 investment priorities

ZEF focuses its investments in areas where it sees the greatest potential for sustainable economic and social development.

Green energy

Distributed green energy, energy storage, energy efficiency, solutions for energy poverty

Organic agriculture

Organic farming, sustainable fishing, food processing, short supply chains

Architecture & housing

Affordable housing, natural material construction, spatial planning

Manufacturing & services

Circular economy, automated small high-value production, innovations

IT & technology

Digitalization, new technologies, IT solutions for communities

Social inclusion

Social enterprises, integration of vulnerable groups, health programs, sports

Education & culture

Educational institutions, access to education, creative industries, sustainable tourism

VISION & MISSION

Vision

ZEF believes in a future society whose economic system is democratic, transparent, solidary, inclusive, rooted in cooperative principles, serving the real needs of communities and caring for the planet.

Mission

To build tools that enable a sustainable and just transformation of financial infrastructure; to develop members' capacities for active contribution to a good economy, and to change the institutional framework towards greater recognition of the cooperative model.

Goal

ZEF was founded with the goal of establishing an ethical bank as the foundation of ethical financing infrastructure that would unlock its full potential.

Core Values

GOVERNANCE

Organizational structure

The Cooperative for Ethical Financing is a cooperative registered at the Commercial Court in Zagreb. ZEF's organization is governed by the Cooperatives Act and ZEF's Rules.

Assembly

The highest governing body in ZEF. Divided into 5 regions (individuals) and 5 sections (legal entities). Adopts rules, elects and dismisses body members, decides on profit distribution and strategy.

Managing Director

Represents ZEF, manages the cooperative's operations and informs members about ZEF's work.

Goran Jeras

Supervisory Board

Oversees the legality of ZEF's operations and decides on the acceptance of annual financial statements.

Milan Medić, Mladen Perkov, Robert Postaj, Marko Sever, Matija Stepanić

Membership Committee

Decides on the rights of members and membership candidates, and approves new members into the Cooperative.

Conciliation Council

Mediates disputes among ZEF members.

PORTFOLIO

Our projects

We invest resources in areas where we see the most potential for sustainable economic and social development.

European Ethical Bank (EEB)

The European Ethical Bank returns banking to its roots and serves as the missing link between European development funds and local community projects.

Consulting

We find innovative solutions for social and business transformations. We offer consulting for sustainable community contribution, business digitalization, strategic planning, feasibility studies and the development of business models and projects.

Economy for the Common Good (ECG)

As the founder of the Croatian branch of the international ECG organization, ZEF offers non-financial reporting services and consulting to improve all parameters within the matrix.

Blue Economy

Community entrepreneurship incubator on Lastovo - connecting marine conservation stakeholders with local communities and a sustainability pre-financing program for small coastal fishers.

Cooperative Housing

We develop financial models and supportive institutional frameworks for implementing cooperative housing models in the region, in collaboration with local government units.

Sustainable Construction

Natural building materials for a sustainable future and healthy living - innovative solutions in collaboration with our members.

LATEST FROM ZEF

News and blog posts

A better economy doesn't build itself.

ZEF develops practical alternatives in finance, housing, energy and the local economy. Your donation helps us keep researching, developing and sharing models that serve people and communities.

JOIN THE

Join the cooperative

Like an oak sharing nutrients with neighboring trees, every new member strengthens the entire network. Become part of the network.