Fundacion Social

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Colombia
Latin America & Caribbean

Industry:Banking
Date joined:24 October, 2005

Company Profile

The Fundación Social is a non profit organization, owner of a corporate group with activities mainly in the Colombian financial sector. It was founded in 1911, by the Jesuit Priest Jose María Campamor, to promote the development of the working class in Bogotá, Colombia´s capital city. Since its foundation, it understands the social aspects intrinsically related to the economic aspects and vice versa. The Sección de Ahorros del Círculo de Obreros, also founded in 1911, pretended to use a sustainable financial intermediation, as the best way to promote savings and finance the worker´s and poors basic needs; over time it has become an outstanding domestic bank: BCSC.

The organization has developed faithfully to its principles. Its mission has been defined as to contribute to overcome the structural causes of poverty in Colombia, in order to promote a more fair, humane and prosperous society, through direct social programs developed in marginal communities, and through the development of a corporate group highly committed with a Corporate Social Responsibility (CSR) intrinsic to its entrepreneurial activity. Its operations are entirely developed in Colombia; 7278 employees and more than 4 million clients attended by its companies.

Its Bank, BCSC, with its two bussiness units: Banco Caja Social BCSC and Colmena BCSC, has a very important position within the local massive banking; they both represent:
* 49% of the microcredit disbursements (Top1)
* 11% of the mortgage portfolio, with a high participation of housing for the poor (Top 5)
* 12% of massive savings (less than USD 4200)
* 5.5% of SME disbursements (Top4)
* 6% of the consumer portfolio

Fundación Social & CSR

Fundación Social understands its CSR as part of its daily business. Therefore sustainability management and reporting is incorporated into the regular business structure of the organization and its companies. All policies relating to social or environmental issues are developed centrally by the Fundación and apply to all parts of the corporate group. It plays an outstanding role in the domestic arena regarding discussion and application of CSR; is has been nominated recently as an expert of the country to the ISO26000, and has been awarded internationally for its work. BCSC is actually being part of the pilot process for the GRI Financial Sector Supplement.

Fundación Social & CSR on the web

www.fundacion-social.com.co