Question 1

What is Fiare Banca Etica?

Accepted Answer

Fiare Banca Etica is an ethical banking cooperative operating in Spain as a branch of the Italian cooperative bank Banca Popolare Etica. Branded as Fiare Banca Etica in Spain, it represents the integration of two ethical finance projects: Banca Popolare Etica (founded in Italy in 1999) and the Fundación Inversión y Ahorro Responsable (FIARE), which began operations in Spain in 2005.

The bank specializes in ethical and socially responsible banking, financing exclusively projects that produce positive social and environmental impacts while offering transparent and participatory banking services.

Question 2

When was Fiare Banca Etica founded?

Accepted Answer

The Spanish presence of Fiare Banca Etica has evolved through several stages:

2003: Several social economy entities in the Basque Country established the Fundación Inversión y Ahorro Responsable (FIARE) in Bilbao, a non-profit organization focused on ethical banking.

2005: FIARE became an agent of the Italian cooperative Banca Popolare Etica, beginning financial intermediation in Spain.

2011: Integration between FIARE and Banca Popolare Etica was proposed and approved by assemblies in both countries.

2013: The Area Fiare was created within Banca Popolare Etica, marking operational integration.

July 2014: The branch was officially registered with the Bank of Spain, beginning operations as Fiare Banca Etica under its current structure.

Question 3

Where is Fiare Banca Etica headquartered?

Accepted Answer

Fiare Banca Etica's Spanish branch is headquartered in Bilbao, in the Basque Country. This reflects the organization's origins in the Basque social economy movement.

The parent institution, Banca Popolare Etica, is headquartered in Padua, Italy.

Question 4

Where does Fiare Banca Etica operate?

Accepted Answer

Fiare Banca Etica operates throughout Spain with offices in major cities including:

Bilbao (headquarters and main office)

Madrid (serving the capital and central Spain)

Barcelona (covering Catalonia and northeastern Spain)

Seville (serving Andalusia and southern Spain)

The bank serves clients across all Spanish provinces through its office network, online banking platform, and network of local social economy organizations. As of 2021, the cooperative had approximately 3,335 members in Spain, contributing to a total of over 47,000 members across Spain and Italy.

Question 5

What services does Fiare Banca Etica offer?

Accepted Answer

Fiare Banca Etica provides comprehensive banking services aligned with ethical finance principles:

Current Accounts: Everyday banking accounts for individuals and organizations, with full transparency about how deposits are used.

Savings and Deposits: Time deposit accounts offering competitive returns while ensuring funds finance social and environmental projects.

Credit and Financing: Loans exclusively for projects with positive social impact, including social enterprises, cooperatives, environmental initiatives, cultural projects, and international cooperation organizations. Credit financing reached approximately €407 million in 2022.

Investment Funds: Ethical investment products screening for social and environmental criteria.

Digital Banking: Mobile app and online banking platform for convenient account management.

Payment Services: Debit and credit cards, direct debits, and SEPA transfers.

Trade Finance: Specialized financing for social economy businesses and international fair trade.

The bank evaluates every financing request through economic, social, and environmental assessment (ESA), ensuring alignment with ethical principles.

Question 6

What makes Fiare Banca Etica unique?

Accepted Answer

Fiare Banca Etica stands out through several distinctive characteristics:

Cooperative Governance: Democratic structure operating on the principle of "one person, one vote," regardless of capital contributed. Members actively participate in decision-making through territorial organizations.

100% Ethical Financing: The bank finances exclusively social economy projects, renewable energy, sustainable agriculture, social services, education, culture, and international cooperation. It provides €0 financing to fossil fuels, weapons, intensive agriculture, gambling, or countries violating human rights.

Complete Transparency: All granted credits are published, allowing savers to see exactly how their money is used and which projects benefit from their deposits.

Social Impact Focus: Beyond financial sustainability, the bank prioritizes social and environmental returns. Beneficiaries include over 67,000 people accessing healthcare, social assistance, and socio-educational services (2022 data).

Environmental Commitment: Financed projects avoided approximately 70,000 tonnes of CO2 emissions.

Italian Deposit Guarantee: As a branch of an Italian bank, deposits are protected by the Italian Deposit Guarantee Scheme (Fondo Interbancario di Tutela dei Depositi) up to €100,000.

Participatory Structure: Members influence strategic decisions through assemblies and territorial groups (GIT - Grupos de Iniciativa Territorial).

Question 7

What type of financial institution is Fiare Banca Etica?

Accepted Answer

Fiare Banca Etica is classified as an EEA Branch (CRDEEABRA) of a credit institution under European Banking Authority regulations. It operates as a Spanish branch of Banca Popolare Etica Società Cooperativa per Azioni, an Italian cooperative bank.

The parent institution (LEI: 549300DI8RATWW2KQO25) is based in Italy, and Fiare operates under its banking license while supervised by the Bank of Spain (Banco de España) for local operations. The cooperative banking model emphasizes member ownership, democratic governance, and social purpose over profit maximization.

Question 8

How is Fiare Banca Etica part of the European ethical banking movement?

Accepted Answer

Fiare Banca Etica is a member of the FEBEA (Federación Europea de Bancos Éticos y Alternativos / European Federation of Ethical and Alternative Banks and Financiers). This network connects ethical banking institutions across Europe committed to using finance as a tool for social transformation.

The bank participates in European initiatives promoting sustainable finance, social entrepreneurship, and responsible investment. Its cross-border structure linking Spain and Italy represents a pioneering model of transnational cooperative banking focused on ethical principles.

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