Cohousing-L Mailing List: Coop Bank/Credit Union for Cohousing

[Jerome F Rigot (jfrigot]

Hello,

At N St Cohousing, we are interested in starting a coop bank or a coop
credit union, basically a financial institution that would allow us to
become more economically self-sufficient, and could be used in many ways,
i.e., providing small loans to members for home improvements, as purchase
of energy efficient appliances, new roofs, home insulation, or for the
financing of community enterprises, as tools and car coops, common house
improvements, etc...Does anybody have any experience or info about what
this venture would entail?  
We are considering two options, either the legal way (either for profit or
non-profit), and thus we need legal details or just doing an "in-house"
coop financial institution, where your own experience would be greatly
appreciated on initial set-up, incentive to the members, start-up details
and any other info you could think of. Also, do any of you know of a
bulletin board or any other network info regarding coops?  I would
appreciate anything you could provide me with.  Thanks.  Send info directly
to me.


Jerome F. Rigot
Department of Environmental Toxicology
4416 Meyer Hall
University of California, Davis
Davis, CA 95616
U.S.A
Phone: W: (916)752-5896
       H: (916)753-7617
e-mail: jfrigot [at] ucdavis.edu