What is CASX: Social auto-financing cooperative network?

CASX is a savings, donations and project funding cooperative. A self-managed, interest free cooperative that functions through assemblies.

Why need it?

We are talking about the first banking structure in Spain (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 (NIF) can also participate in the project. Promoting self-management beyond the state and capital. Promoting participation in assembliess and working groups for all members.

How to become a member

There is an entry fee of 15 euros for individuals and 51 for groups. The payment of the membership fee is the first step to provide a deposit or to submit a project. The form can be obtained in person and assemblies can also be filled from the website. Contributions and Guarantee Fund Any person becoming a member of CASX 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 to CASX are used to finance self-managed individual or collective projects aiming at the common good and respectful to the environment. 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. Maintain and guarantee the reserve fund. Give support to concrete projects, that have no capacity of returns or the returns cannot be ensured. This includes strategic projects with a clear collective character. Contributions and donations can be made through bank transfers or in cash at the local of AureaSocial Carrer Sardinia, 263 in Barcelona.

All the work done untill now by the CASX staff is voluntary. The credit cooperative lends only a part of what it has, despite the absence of a fractional reserve, 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 such as: Fiare, Coop57 and others We Facilitate new initiatives, favor savers’ confidence and support solid projects.

Withdrawal of the savings

When members want to withdraw their savings, each month may do so a specific amount, calculated through a chart The next month the ammount that can be withdrawn will be recalculated according to the remainder in the account. Any exceptions will be approved at the meeting. We encourage the deposits of the most committed people who want to abondon the monetarist logic, who may request only to withdraw their savings partially or in ways beneficial to society than their own money, such as social currency or obtaining services.