He did not work as a banker. He had no support from a significant organization. However, in 1991, A. Emin Üstün established a company that would gradually change Turkey’s home financing regulations. Eminevim provided people with something remarkably uncommon—ownership through shared commitment—without charging interest or depending on credit scores.
The Elbirliği model, which translates to “solidarity,” is the foundation of this financing strategy, which is based on community pooling. After making monthly contributions, each participant eventually receives their home, vehicle, or commercial space through a draw or rotation. Fairness, not money, is the foundation of this system, which has been incredibly successful in changing how people obtain real estate.
By the end of 2024, Eminevim had effectively transferred over 350,000 assets, such as residences, cars, or workplaces, with the goal of serving more than 600,000 people by 2025. That scale conveys more information than just novelty. It demonstrates resilience, especially in areas where traditional loans are frequently seen with suspicion or thought to be unavailable.
Their workspaces don’t resemble banks. Where financial advisors also serve as life counselors, they have a more collaborative vibe. You are questioned about your objectives rather than your credit history. An apartment in Gaziantep with two bedrooms? Kayseri, a family van? An İzmir retirement plan? This individualized approach has been especially helpful for families who want to finance their futures with dignity.
| Key Details | Information |
|---|---|
| Founded | 1991 by A. Emin Üstün |
| Headquarters | Istanbul, Turkey |
| Core Model | Interest-free, credit-free savings-based financing (Elbirliği Sistemi) |
| Services | Home, vehicle, and commercial property financing |
| Customer Base (as of 2025) | Over 600,000 clients served |
| Total Deliveries | More than 350,000 successful property and vehicle handovers |
| Active Branches | 161 locations across Turkey |
| Mobile App | Available on Google Play and App Store for customers and inquiries |
| Website | www.eminevim.com |
Eminevim’s model gained popularity over the past ten years as Turkish consumers faced challenges from inflation and volatile interest rates. It provided a very effective hedge against the volatility that many people experienced when depending on bank loans because it had no interest and transparent payment schedules. In contrast to high-interest mortgages, participants pay a fixed monthly amount, typically starting at 18,750 TL, which is surprisingly affordable.
A regional director described how some clients arrive doubtful, uncertain if such a system can work, during a visit to one of their branches in 2023. “But the doubt goes away once they come to our draws and see people getting real homes,” he said. They understand that this is more than just a pledge. It is a custom.
Their use of digital tools has significantly improved over time. Members can now participate in draws, monitor payments, and speak with staff members directly through the Eminevim mobile app. It’s a contemporary interface encased in a classic idea that satisfies modern demands without compromising its fundamental principles.
Waiting periods and upfront service charges have drawn criticism. It’s true that not everyone gets their property right away. However, those delays are structurally honest, reflecting the model’s shared nature. Participants are investing in equity rather than speed. The long-term benefit is also worth the wait for many.
The message has been effectively disseminated thanks to social media. There are innumerable tales of generations standing proudly in front of new doorsteps and families celebrating new keys on YouTube and Instagram, frequently with tears in their eyes. These commercials lack polish. These are unvarnished, genuine moments.
A testimonial from a single mother who had saved for six years was especially poignant. The delivery video, which her son uploaded to TikTok, went viral very fast. When she joined, she didn’t have a bank account. However, she had hope, and that was sufficient. She described it as “a future bought by patience, not interest.”
Eminevim has also been successful in reaching younger audiences—those who have lost faith in conventional financial institutions—through targeted outreach. Instead of emphasizing reliance, their messaging stresses empowerment. Here is where the brand subtly distinguishes itself. Luxury is not marketed by it. It promotes possibility.
Chairwoman Süheyla Üstün reiterated their goals of growing beyond 200 branches and continuing to act as a social bridge for middle-class families during a youth summit that President Erdoğan attended. She stated, “We are funding more than just buildings.” “Peace of mind is what we are funding.”
The figures are impressive from a business perspective. However, Eminevim’s influence on society might be even greater. It provides a substitute based on long-term planning, financial ethics, and cultural familiarity. It appeals to people of all income levels and religious beliefs because it is so adaptable.
I’ve had conversations with clients who never imagined they’d own anything. farmers. educators. small business owners. Some had repeatedly been turned down for loans. According to one Şanlıurfa man, “They didn’t ask if I was rich.” They inquired about my ability to commit. It all came down to that small change in framing.
Eminevim provides more than just real estate for young families or those getting over financial difficulties; it provides a fresh start. By engaging with the system, they are regaining control in addition to purchasing homes. That’s not only efficient. That is revolutionary.
Eminevim’s methodical, slow approach seems almost rebellious in the face of banks introducing AI underwriting tools and fintech startups pursuing instant lending. Nevertheless, it continues to grow. Maybe because the prospect of stability is still so alluring in a fast-paced economy.
It remains to be seen if the model succeeds outside of Turkey. However, the lesson is very clear: being profitable doesn’t require predatory behavior in finance. Mutual benefit, openness, and trust can serve as its foundation.
