[Occupymendocino] People's Reserve Credit Union

[Richard Karch]

http://blogs.sfweekly.com/thesnitch/2011/12/occupy_sf_peoples_reserve_credit_union.php

THIS IS AN OLD ARTICLE!
Occupy SF Protesters to Open People's Reserve Credit Union

By Erin Sherbert Fri., Dec. 2 2011 at 1:10 PM


Occupy is doing something besides squatting
​A few weeks ago, we got a real kick out of the fact that Occupy Oakland deposited a $20,000 donation it received into Wells Fargo -- 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 Occupy SF's Facebook page:

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.

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. 

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.
-------------- next part --------------
An HTML attachment was scrubbed...
URL: http://lists.mcn.org/pipermail/occupymendocino/attachments/20121119/7b1c940c/attachment.html