About us

The Association “Bulgarian association of credit cooperatives and organizations for microfinance” / BACCOM / was established in 1999 in Plovdiv as a legal non-profit entity. It is the leading organization for business professionals and their companies in Bulgaria. BACCOM members are a diverse professional group that creates value for its members and their representatives by equal emphasis on relationship development and community. Since its creation the main objectives of the Association are to:  

integrate and support its members – cooperative and microfinance institutions in Bulgaria, which play an important economic and social role,


contribute to the generation of higher income and economic growth as represent them and protect their interests;

develope a common strategy and guidelines for the development activities of its members;

encourage its members in carrying out their activities, providing them with support and organizational-methodological, scientific and technical, financial and economic and marketing information;

coordinate the members’ activities in accordance with the established common goals and tasks in the process of overall strategic objectives, projects and solutions;

  • promote and develop cooperative work in the country and in particular the cooperative credit and mutually supportive system;
  • work to create a system and organization to finance credit cooperatives and microfinance organizations;
  • protect and promote the ideas and interests of its members before the state, public and other authorities at home and abroad;
  • help the cooperation of members with similar organizations in the country and international organizations and movements;
  • act on improving public awareness of the possibilities of cooperative-credit activity to members in the country, organize training of leaders and management, organize seminars, conferences and participation in international workshops.

The association is open for everyone and the membership is voluntary.


Mission and goals

Mission BACCOM is to support the development of ethical finance in Bulgaria by introducing ethical financing of small entrepreneurs, the realization of objectives in the field of regional development, social support, reducing differences and works for approval as an equal partner of the European and world organizations for implementation of joint projects, programs and other initiatives.

BACCOM has 20 years of expertise and practice in Bulgaria. It cooperates with over 60 credit cooperatives operating in European funding models, although Bulgarian Cooperative legislation has not been synchronized with the law in the European Union yet.


BACCOM has a national network of members who work to promote ethical financing and construction of a well-functioning economy, includes a well-functioning sector of credit cooperatives and microfinance organizations.


BACCOM works efficiently to synchronize our national and the EU cooperative legislation, where credit cooperatives provide 25-30% of the credit resource for small and medium businesses across Europe. Harmonization of the Bulgarian legislation with the EU is strategically important. This will contribute to ensuring the stability, solvency and competitiveness of the national and European economy.



BACCOM is a member of the “European Microfinance Network” (EMN) – www.european-microfinance.org. As members of EMN, we work together to improve the regulatory framework in line with European practices, participation in trainings, consultations, joint projects, institutional strengthening, providing financing for small producers and other useful initiatives for members. Sharing and implementation of the best European practices are in favor of transparency and fairness to the members and users of credit resources, for the eradication of poverty, unemployment and creating conditions for employment of young people.


BACCOM is the initiator and one of the founders of the “Cluster of ethical finance entrepreneurship”, www.kefp.eu, whose members are companies and individuals who have focused their efforts for the promotion and introduction of ethical financing of entrepreneurship in Bulgaria. Due to the ethical banks, banking institutions return to their image, changed in the beginning of the twentieth century and work on opportunities to be a tool to develop local projects and new social initiatives. Through its activities the ethical banks promote social inclusion, sustainable development, social economy and social entrepreneurship.