Last week, the New Economy Credit Union’s Organizing Committee hosted its first ever organizational meeting to elect the initial board of directors for the credit union once it opens. The meeting was a big success!
Dozens of community members from across the 53212 zip code and beyond gathered at King Drive Commons on the evening of Sunday, December 3. Organizing Committee leaders Rick Banks and Alex Brower kicked off the meeting with a brief introduction to the credit union and its progress thus far. The energy in the room was palpable. Rick and Alex shared the news that the Organizing Committee was ready to submit its application for official charter at the Wisconsin Office of Credit Unions in Madison.
Then they explained the proceedings for electing members to the board. The Organizing Committee nominated its own slate of candidates, and two members of the community also stepped up and nominated themselves for consideration.
After discussion and voting, a new Board of Directors was elected to lead the Credit Union once it opens. We’d like to congratulate Rossalyn Wolfe, Lavelle Young, Rick Banks, Alex Brower, Emily Bell and Tina Garcia for being elected! (I was also voted onto the board.)
Thank you to everyone who participated in this meeting and who is joining with us to build an economic democracy in Milwaukee! Stay tuned for an update on the submission of our application.
The Riverwest and Harambee Credit Union is now New Economy Credit Union
We’ve changed our name to be more reflective of our values and vision—creating a new and democratic economy. We found that our former name was quite a mouthful and also excluded residents of the 53212 zip code who don’t live in the Riverwest or Harambee neighborhoods.
We’re thrilled to share this news with you, and if that weren’t enough, we’re also delighted to say that we are less than one hundred dollars short of raising $10,000 in start-up capital. If you’d like to help us get all the way to $10k, please make a donation today!
Be a leader in this movement! We are looking for people to serve on our Organizing Committee, which will become the board when we open as a business. You can help make this credit union a reality. Send a letter of interest and a resume to email@example.com, or give us a call at 414-949-8756.
We have been moving forward considerably. You may remember that in March and April, we conducted an online market survey of our potential membership. We’ve been looking at the data, and have complied it for us to begin our analysis. A special thanks to Alex Hagler and Alex Brower on the Organizing Committee for putting in a lot of time!
We’ll use these results to create our pro forma financial projections, and determine how many members we will have. We’ll use that information to complete our business plan.
Check out the Market Survey Results by clicking here! We’d love your thoughts, questions, comments or concerns. Pleasecontact us with any thoughts. Our initial look at these numbers shows that people want this credit union, and we will be a very healthy financial institution!
On May 18th the Riverwest & Harambee Credit Union is having a community fundraiser at Company Brewing located at 735 E Center St. Music will be provided by neighborhood musician Jay Anderson. There will be a silent auction and 50/50 raffle. Plus $1 off all Company Brewing taps.
Music starts at 10pm.
We´d love to see you there! Come learn about our efforts to establish a community organizing credit union for the 53212 zip code while enjoying the company of your community!