• 1997: Alter Modus was established as a non-governmental organization (association of citizens).
• 1999: NGO Alter Modus started off with implementation of micro-credit program, supported by United Nation High Commissioner for Refugees (UNHCR) and Danish Refugee Council (DRC).
• 2002: Micro-crediting became the sole business activity of NGO Alter Modus.
• 2003: Central Bank of Montenegro adopted Decision on minimum standards for risk management in MFI and officially became regulatory authority that controls legal entities preforming micro-crediting activities. NGO Alter Modus got license for work by Central Bank of Montenegro on May 19, 2003.
• 2007: Pursuant to the new Law on non-governmental organizations (Official Gazette of Montenegro No. 11/07) and to the Law on banks (Official Gazette of Montenegro No. 17/08), NGOs could no longer perform micro-crediting activity in Montenegro.
• 2009: NGO Alter Modus established a company MFI Alter Modus LLC to which it transferred all the business activities, while its equity has invested in paid up capital of the Company.
• 2015: Alter Modus LLC established governing bodies adhering to the best international practices and recommendations for corporate governance.
• 2023: Pettelaar Fund from the Netherlands became Alter Modus’ co-owner with 9.9% of share in equity. Majority ownership (90.1%) belongs to NGO Alter Modus.