Location Denmark
Impact story


Folkesparekassen is a non-profit bank with environmental values. We combine classical banking with a vision of a sustainable society. We distance ourselves from speculation and we try to offer full transparency for our customers. We worry about the environment and we believe there is a very strong connection between the rising pursuit of returns and the exploitation of resources of the earth.

Our main objectives are:

  • To make a difference in the world by working for the capital to stay where it is created instead of concentrating on a few.
  • To work for the resources of the planet to be used thinking about the next generation

In the long perspective, we try to contribute to the development of a new economic system worldwide. In the short run, we encourage our customers to make sustainable choices, by offering green loans for houses, cars and activities with sustainable elements. Next to all these things, we also offer our customers what you normally expect from a bank.


Folkesparekassen was founded in 1983 in the town Silkeborg In Denmark based on the idea, that people should not pay interest rates when obtaining loans. The only things to be paid were costs to the administration and the required capital ratio. Folkesparekassen has no shareholders. The capital is based on revenues and conjunctive capital. The conjunctive capital is without any yields. Depositors do not get any interest rate. Instead, the depositors are earning possibilities of obtaining loans at special interest rates condition. Today, Folkesparekassen has offices in Silkeborg, Aarhus og Odense.


Folkesparekassen is a bank which is organized as a self-governing institution with a board of directors and a representative body as the supreme authority. The purpose of the bank is to ensure equal prosperity for everyone – without speculation – and the bank has no shareholders. Depositors, the so-called guarantors, receive interest on their capital at a pre-determined interest rate. This structure ensures a prudent operation of the company because the guarantors thereby do not have the incentive to let the bank enter into risky business.

Board of Management

  • Mads Velbæk, Chief Executive Officer
  • Martha Petersen, Executive Director

Market Focus, Products and Services

Folkesparekassen provides a full range of financial services, including savings and current accounts  (with Visa, Mastercard Kredit and/or debit cards), payment services, online banking, pension schemes as well as impact investment. We also offer green loans for houses, cars and activities with sustainable elements.

Benefits of being part of the GABV

  1. Join a movement for banking based on values and this way be bigger and stronger
  2. Get inspiration
  3. Contribute to the movement by telling our story and sharing our ideas
  4. Use the membership in  the storytelling to our customers

Folkesparekassens main objective is to use the membership of GABV to show, that there is a worldwide alternative to the established banking system.