Re: Cohousing Bank -- Rotation Credit
From: Sharon Villines (
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 Villines
Takoma Village Cohousing, Washington DC

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