Investing in Those Who Are Poor Choosing investments that will benefit the poor is one of hundreds of ways in which Medical Mission Sisters around the world try to be a healing presence to those in need today. When Medical Mission Sisters first joined Oikocredit - formerly called the Ecumenical Development Cooperative Society - in 1980, we were looking for a way to invest that would benefit the poor. "It became clear to us we had to search for a better and more just use of our money," explains German Sister Michaela Bank. Our initial investment was small, but "went along with our values." We knew that Oikocredit would loan our investment to people in the global South, especially women, who had no other access to credit.
Today, Oikocredit manages investments from 24,000 individuals and local organizations, and 500 churches and church-related organizations. It makes low-interest loans to more than 480 cooperatives and microcredit institutions in over 65 countries. Women's initiatives continue to be favored. Projects that are funded must benefit poor and disadvantaged people, and contribute to the social and economic advancement of the community. The ecological impact of projects is considered as well.
In 31 years, Oikocredit has circulated millions of dollars and returned all loans. Sister Michaela has served on the board of Oikocredit's West German Support Association and is a former member of its auditing committee. Sister Anne Bellosillo attended a 30th anniversary celebration for Oikocredit in December, 2005, in Quezon City, the Philippines. She reflects, "The name Oikocredit comes from the old Greek word Oikos meaning 'house' where people live together, or society. 'Credit' refers not only to loans as a financial instrument to fight poverty. It also refers to Credo, I believe. Oikocredit means: I believe in you." "All human beings are created equal, and are capable of creating for themselves a better life. Oikocredit believes that poor people themselves can be the answer to poverty, given the chance and the credit that they need and deserve."
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