Confluence of Lefts proposed creating a municipal financial institution in Elche to address systemic gaps in local finance. The idea centers on protecting residents from bank-driven stress and ensuring elder citizens are not disproportionately affected by resource shortages. The plan emphasizes responsible money management and local tax collection oversight, with a model that prioritizes service quality over profit and minimizes reliance on external intermediaries.
Among its core goals is to offer services to older residents who may lack online access or have limited banking hours. The institution would provide personal attention, remove needless commissions, and grant clients full control over their funds within a transparent program framework.
financial asset
As Unidas Podemos has explained, this financial asset would come with free financial guidance for families, aiming to prevent scenarios where banks’ commercial practices erode income or savings, such as in cases involving preferred products. The objective is to empower households to safeguard their financial stability through informed choices.
Additionally, the proposal includes micro-loans of up to 6,000 euros for small self-employed individuals. The intent is to help them bridge gaps when private bank loans are difficult to obtain due to interest rates or broader economic conditions. The program would also manage liquidity needs and provide a route to bank-backed financing, while ensuring that insurance mechanisms and other protections not always available through private banks are accessible under the new framework.
five million investment
Proponents note that funding exists to bring this proposal to life, with a ceiling of five million euros for the project. There is a specific allocation earmarked for a university parking facility, reflecting the sequencing of investments to benefit the broader community. The proponents have not predetermined a fixed legal form, leaving flexibility to secure agreements with other entities and facilitate a collaborative rollout.
However, the plan envisions citizen oversight mechanisms to monitor operations. If necessary, tools to enforce accountability and protect against risky actions would be established within the governance framework to ensure transparency and public trust.
social majority
The model aims to serve Elche’s social majority with an ethical service that lowers expenses by offering reduced commissions and interest. With more affordable financial access, households could redirect savings toward essential needs or investments that yield long-term benefits for families and the community alike.
Ultimately, supporters argue that the release of household income could stimulate local demand and energize Elche’s economy, contributing to broader economic vitality and resilience in the region. [Citation: local governance discussions, community finance proposals].