Some folks associated with the US Federation of Worker Cooperatives are starting a national credit union explicitly targeting worker cooperatives for business startup and expansion loans. This is fantastic- numerous studies have shown that worker cooperatives beat conventional firms in terms of productivity hands-down, but they have extremely limited access to financing. A credit union that funds worker cooperatives is a major necessary step towards building a genuinely democratic economy.
How can you help? The National Credit Union Administration (which insures credit union deposits) requires 3000 pledges* of future membership for the credit union chartering process. Fill out the survey linked above and email it back to help make this thing become a reality.
*Pledges are non-binding.
