Oikocredit
Oikocredit was founded in 1975 on the initiative of the World Council of Churches under the name Ecumenical Development Cooperative Society (EDCS). The goal was to mobilize church reserves for development promotion. The basic approach of linking development promotion with loans and valuable investments initially met with skepticism from church financial and development experts. Initially, some people did not feel comfortable giving loans to disadvantaged people instead of donations. Others disagreed with investing the church's money in something believed to be unlikely to work and yield no financial profit. However, many people from churches throughout Europe believed in the idea of Oikocredit and established Oikocredit support groups in the late 1970s. Through these support groups, private individuals, church communities, associations, foundations, and other organizations could invest in Oikocredit, which had previously been reserved for churches. Today, the support groups provide the majority of Oikocredit's member capital.