Cohousing-L Mailing List: RE: cohousing bank

[Robyn (pov]

Hi

Re: 60 cohousing communities, must be an average of at least $100,000
per community in reserves and rainy day funds.  If half of that were
invested in a cohousing bank, and made available to cohousing
borrowers.. just imagine.

I can!

Pinakarri Community (Western Australia) is a member of the Federation of
Housing Collectives (FOHCOL), a not-for-profit, co-operative networking
and advocacy association, primarily supporting rental co-ops.  About
three years ago the Co-ops started investing through a Co-op Maintenance
Trust, set up by FOHCOL with nominated members of the contributing
(currently 6) Co-ops as Trustees.  Initially as a vehicle for long-term
maintenance funds (now hold over AUS$400,000), some Co-ops are using it
to hold other monies, such as surpluses.

We're currently looking at how to expand it (or an adaption of the
concept) and market to a compatible and broader market.  The aim is to
offer a safe, investment vehicle for small groups (and individuals?), to
protect their long-term maintenance funds, and eventually to support the
development of cohousing/co-ops, through loans, property investment,
etc.  FOHCOL as the auspicing organisation takes (theoretically) a tiny
% of generated income as a management fee.  The investments so far have
been very conservative yet have made a competitive return for investors.
There is a commitment to ethical investment.

So start small and go for it.

Warm regards
Robyn Williams  

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