Why a credit union?

Are you tired of bankers and the richest 1% controlling our economy?  Eight years ago, the bankers crashed our economy, and yet the same banks are still in charge – and regular people are still hurting.  It’s time for a change in the way our economy runs.  A new credit union will allow us to create the economy we need.  We can provide consumer-friendly loans, promote financial literacy, and challenge the power of the bankers.

We are starting a basic services, community organizing credit union to fight for economic democracy – where workers and communities that create wealth decide how that wealth is used.

When we receive regulatory approval, we can provide business loans to our neighbors, and create new cooperatives.  A credit union dedicated to supporting cooperative businesses will help us create jobs in Harambee and Riverwest.   With a new credit union we can create a sustainable, just, and democratic economy. 

But why a credit union, specifically?  Can’t we just form a non-profit and call it a day?  Non-profits and loan funds are great, and without those instruments we would not be where we are today.  Financial institutions, however, are central to an economy, and a credit union will be central to a democratic economy here in Harambee and Riverwest.

Think of all the money in interest that leaves our neighborhood every month.  What if car loans and home mortgages here in 53212 were at a local credit union?  Think of what we could do with all that interest money!  We could have better interest rates, and use the profits to do cool things here in our neighborhoods.  Right now, a lot of interest income from the banks goes to the richest 1%.  What if that money – instead of being used to buy a rich guy’s second yacht – could be used to start a new co-op in Harambee?

Think about it – and if you want to have a conversation, make sure to contact us today!