Auto-financing

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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.

Decisionmaking
Decisions that affect all members of CASX are taken at a meeting and approved via  CONSENSUS among all members participating in the meeting. Obstruction of a proposal must be justified and must be carried out in person at a meeting.
If the funding of a project is obstructed, it moves to an endorsment system since the ones that agree to go on with the funding can do so individually.
The endorsment system would be a “passive” crowfunding method that starts in the event that there is no consensus and applies in the event that the project financed can not afford to pay the loan back.
The endorsment is a payment that a saver owes to CASX and that if the project can not afford the loan back, automatically becomes non-refundable, ie donation.
Project admittance process
The projects to be financed must meet certain previously agreed political and ecological social criteria as well as being strategically appealing for social transformation (productive or non-productive).
Admittance criterias are similar to the principles and criterias of the Catalan Integral Cooperative regarding autonomous associates.
In principle there are no credits for personal consumption purchases. This part would be covered through exchange, social currency or  interpersonal donations (without the need for the structure of the financial cooperative).
Project Approval Procedure
a- A project plan is presented to the project commission of the CASX
b- It is analyzed and conclusions are drawn
c- The proposal is presented to the general assembly
b- The commission presents the conclusions drawn from the analysis of the Project Plan.
c-The general assembly decides whether to accept financing the project or if needs to be revised to receive funding in the future.
Additional services
Expense reduction office: is an informative support office for the people who bring their deposits to CASX, so that instead of making money through interest, they may gain through cost savings. This office supports degrowth principles.
Engagement in progressive decentralization
One of the goals of the project is to increasingly replicate the same system locally, so that every neighborhood, town or city can start generating their own CASX assembly, redirecting the resources of their local members to local projects.
Contact
e-mail: casx@casx.cat
To subscribe to the mailing list: casx@marsupi.org
N-1 group: CASX
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