|Re: Cohousing Bank -- Rotation Credit||<– Date –> <– Thread –>|
|From: Sharon Villines (sharonsharonvillines.com)|
|Date: Thu, 27 Jun 2002 09:02:03 -0600 (MDT)|
> And the value of Reserve and Replacement funds which Chris mentioned, is at > least the $3,000,000 he quoted. The trick is coordinating the treasusres in > each commiunity to work together for the larger good. I just heard about a financial plan that is used in some ethnic communities (Chinese?) to build their family businesses in America -- called a "rotation credit association" where members pool funds that are then available on a rotating basis to individual members. Each one uses the pool of money to build their business and then pays it back. Well planned, a process like this would guarantee construction loans to new communities that met "good practices" criteria set by the association and also (perhaps) reduce the amount of reserves necessary to protect a developed community. Developing the standards for "good financial practices" in cohousing development might also be helpful to new communities who are mostly on their own in this regard. > Unfortunately at this time there is no national bank who has stepped forward > to tap into this market but I expect one will come along in the not too > distant future. "Step forward" is the operative word here. Unless a banker moves into a cohousing community this will probably not happen. One of our financial gurus or a group of them will have to go looking. Most of us wouldn't even know how to start. Sharon -- Sharon Villines Takoma Village Cohousing, Washington DC http://www.takomavillage.org _______________________________________________ Cohousing-L mailing list Cohousing-L [at] cohousing.org Unsubscribe and other info: http://www.communityforum.net/mailman/listinfo/cohousing-l
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