English

Since 1987, the Mag4 cooperative operates in the ethical finance field, its aim is to create economic models based on the cooperation, self-management and basic associationism alternatively to the traditional economic system and it wants to give support to no-profit enterpreneurship based on values such as co-management, no-speculative reinvestment of profits, democratic organization, inclusion of disadvantaged, transparency, democraticity, respect for the environment and participation.

Mag4 raises money in order to invest in a fair circuit, not speculative and transparent. Signing shares in share capital, shareholders will be able to control the use of their savings through transparent information about the ongoing funded projects and activities. They may also participate in the cooperative’s social life taking part in meetings and contributing to the cultural promotion of MAG and solidarity economy. Finally, natural persons have the opportunity to become saver-shareholder and open a saving account at one of Mag's shareholder cooperatives which manages internally its social loan. Legal persons (associations, cooperatives and mutual aid societies) can deposit their savings directly at MAG4 in a remunerated passbook, without being charged for any management fee.

 The cooperative provides funding to cooperatives, associations and mutual aid societies that carry out activities in favor of solidarity, social integration, fair trade, youth education, environmental protection and all those activities that do not damage people or nature, in any way. The financed enterprises must be partners of the cooperative and they can pay down the loan within 5 years, with customized repayment plan and the possibility of an in advance repayment with a reasonable reduction in interest rates. Interest rates vary according to ISTAT inflation rate and company’s size, without any other associated cost. As a guarantee for loans, we demand limited and personal loan guarantees, this means that guarantors are not jointly nor severally liable.

Among the activities carried out by Mag4 there are also consultation and development services for cooperatives, associations, mutual aid societies, schools and individuals engaged in activities related to the development of circuits of the solidarity economy, both in the phase of creation of the start up businesses through : feasibility plans, estimates and budget, statutes, taxation on the establishment; and in the case of reorganization and introduction of technical supports, with analysis of the organization and its balance sheet, management control and administrative tools, preparation of certification paths, beginning and management of social lending. The training is adressed both to the busenisses, concerning the management control, financial management, communication, social budget, group dynamics, and to the schools, concerning the ethical issues in finance.

In the end, Mag4 works to promote the culture of the solidarity economy, through the organization of meetings, thematic conferences and workshops.

MAG4 works in cooperation with its members, with other organizations that deal with ethical finance in Italy, with those who deal with solidarity economy in the territory. In the past, MAG4 carried out its activities in collaboration with cooperatives of MAG's Group. The group has been an essential part in the development and work of the Mag, but it decided to dissolve because of circumstances under which it has fallen and different courses undertaken by individual cooperatives. However, the awareness to continue contributing actively to the life of Mag remains in all subjects who made up the group.