The general meeting of the of the TEB Cooperative Group is to take a step forward in encouraging ethical, social and cooperative finance through families in the group, by giving the green light to the issue of the savings bonds known as “Compromisos TEB”. With these decisions, the group is to formally issue the bonds through the cooperative holding company, Taller Escola Barcelona, with an annual interest rate of 3.75% and maturing after three years.

 

The “Compromisos TEB” bonds will give the cooperatives in the group to access to financial resources at interest rates lower than on the market so that they can undertake new projects to create jobs. TEB members and their families, on the other hand, will be able to get a return on their savings that is higher than that currently offered by banks. They can also rest assured that their money is being used to carry out social investments for the benefit of people with intellectual disability.

 

The cooperative offers liquidity, as it promises to repurchase the bonds, which are also callable, so guaranteeing that their holders will get their money. Each member could purchase up to 20 bonds, worth 10,000 euros, and a minimum of one bond, worth 500 euros.