<html><head></head><body style="word-wrap: break-word; -webkit-nbsp-mode: space; -webkit-line-break: after-white-space; "><a href="http://blogs.sfweekly.com/thesnitch/2011/12/occupy_sf_peoples_reserve_credit_union.php">http://blogs.sfweekly.com/thesnitch/2011/12/occupy_sf_peoples_reserve_credit_union.php</a><div><br></div><div>THIS IS AN OLD ARTICLE!</div><div><div class="primaryCategory"><a href="http://blogs.sfweekly.com/thesnitch/occupy/"></a></div>
<h1 class="entryHeadline">Occupy SF Protesters to Open People's Reserve Credit Union</h1>
<div class="ClearIt"></div>
<div class="byLine">
<span class="bylineAuthor">By <a href="http://blogs.sfweekly.com/author.php?author_id=1679">Erin Sherbert</a></span>
<span class="bylineDate">Fri., Dec. 2 2011 at 1:10 PM</span>
</div>
<div class="commentCount"><br></div><div class="shares"><ul class="Share_Buttons">
</ul>
<div class="ClearIt"></div>
</div>
<div class="body">
<span class="mt-enclosure mt-enclosure-image" style="display: inline;"><table class="image right" border="0" width="250"><tbody><tr><td><a href="http://blogs.sfweekly.com/thesnitch/99percent.jpg"><img alt="99percent.jpg" src="http://blogs.sfweekly.com/thesnitch/assets_c/2011/12/99percent-thumb-250x187.jpg" height="187" width="250"></a></td></tr><tr><td class="caption">Occupy is doing something besides squatting </td></tr></tbody></table></span>A few weeks ago, we got a real kick out of the fact that <a href="http://blogs.sfweekly.com/thesnitch/2011/11/occupy_oakland_wells_fargo.php">Occupy Oakland deposited a $20,000 donation it received into Wells Fargo </a>--
one of the many big banks the movement has been actively protesting
since September. Say what you want about Occupy SF camp (it's dirty and
filled with homeless people) -- at least protesters there are
practicing what thE Members of Occupy SF announced their ambitious plans to turn protesters
into bankers by creating the People's Reserve Credit Union. According to
<a href="http://www.facebook.com/media/set/?set=a.10150393701330817.352124.171020735816&type=3">Occupy SF's Facebook page</a>:</div><br><blockquote>The
goal of this project is to encourage San Francisco residents,
businesses, as well as nonprofit and city agencies to keep their money
out of the big banks and to redistribute that money locally. Initial
services will include micro-loans for the working poor and homeless, and
subsidized student loans at low interest rates.</blockquote>
<a name="more"></a>
<br>The credit union is being created with the help of Supervisors John
Avalos and Eric Mar. The group filed its paperwork and has already
crafted a thoughtful mission statement: The credit union will serve as a
replicable model for other financial institutions to reinvest wealth in
their local communities. They will support microenterprise, provide
educational loans, and foster community improvement projects. <br><br>Jason
Macarthur, a protester with Occupy SF, listed the goals that the
organization plans to achieve within the first year. That includes
starting with 500 members with plans to grow to 2,000 members before the
end of next year.<br></div></body></html>