Cohousing-L Mailing List: Co-housing Community Bank

[Jerome F Rigot (jfrigot]

Hello,

        At N St Cohousing, in Davis, CA, 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, such 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 appropriate legal details or just
doing an "in-house" coop financial institution, where your own experience
of the initial set-up, incentive to the members, start-up details and any
other info you could think of would be greatly appreciated.
        I already posted this announcement, but I had problems and I lost
the info that was sent to me, also, I didn't receive many answers, but
since the membership for this bulletin board increases steadily, I am
hoping to get more info.  Please send your feed back directly to me.
Thanks.
--Jerome

--
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