EARTHKEEPING NEWS A NEWSLETTER OF THE NORTH AMERICAN COALITION FOR CHRISTIANITY AND ECOLOGY Volume Eight, Number Three March/April 1999 FAITH COMMUNITIES BUY SHARES IN LOCAL DEVELOPMENT WORLDWIDE The Ecumenical Development Cooperative Society (EDCS), founded by the World Council of Churches and headquartered in The Netherlands, since 1975 has provided loans and guarantees to 350 sustainable enterprises of marginalized people primarily in the Third World (e.g. a tea plantation in India; organic composters in the Philippines; a transportation cooperative in Zimbabwe; handicraft production; and multi-purpose agricultural co-ops in many countries). Over 90% of the loaned funds have been repaid, thanks to the reliability of the local entrepreneurs themselves and a front line staff of 15 experienced managers dispersed world wide, who help local groups with feasibility studies and proposal preparation that leads up to an EDCS loan. Regional managers are usually natives of the areas in which they serve, able to communicate with local leaders and the interested public as no outsider could do. EDCS is a cooperative with both religious organizations and community-based project entrepreneurs as members. Its capital comes mainly from the investments of over 400 churches and church organizations, as well as 14,000 congregations, religious orders and individuals who contribute to EDCS through Support Associations. Support Associations have over the years contributed nearly 80% of the share capital. At the end of 1997 EDCS had 392 shareholders in 73 countries (including 44 shareholders in USA), with a total share capital of $8,450,262. An EDCS share costs $250. Since 1989 EDCS has paid a 2% dividend yearly to all members. To participate in this vehicle for socially responsible investment, contact the EDCS headquarters in America, 1511 K Street NW, Suite 1165, Washington DC 20005; 202/628-5067; edcusa@erols.com Information from EDCS, P.C. Hooftlaan 3, 3818 HG Amersfoort, The Netherlands; office@edcs.nl Home     Table of Contents