NewB

NewB was a cooperative financial institution established in Belgium with a mission to create an ethical, sustainable, and transparent bank that served the real economy. Founded in 2011 by a diverse group of civil society organizations and citizens, it successfully raised capital through crowdfunding campaigns to become a citizen-led bank. After obtaining its banking license from the European Central Bank in 2020, it offered basic banking services. However, due to challenges in raising the additional capital required by regulators for long-term viability, NewB announced the cessation of all its banking activities on October 28, 2022, and surrendered its banking license. The cooperative now continues its mission by promoting ethical finance as an agent for vdk bank.