Jackson Rising conference brings together social justice and cooperative activists
While the words “co-op” and “civil rights” do not commonly appear in the same sentence, with more than 300 cooperative and social justice activists gathered in Jackson, Mississippi, last weekend, the question was hard to avoid.
Chartered in 1935, South Florida Educational Federal Credit Union (SFEFCU) is now one of the largest credit unions in the state with over 76,000 members and more than $1 billion in assets. As an institution that originally served families of those working for the Miami Dade County Public School system, SFEFCU has a strong commitment to education, providing numerous scholarships to students, including 15 four-year scholarships to graduating high school seniors on an annual basis. SFEFCU also has 13 branches located in area high schools and runs a financial literacy program to teach youth the importance of budgeting, saving, and investing.
But employee ownership requires new investment in order to get to scale. A new report by Mary Ann Beyster, president and trustee of the Foundation for Enterprise Development (FED), published by the Fifty by Fifty initiative of The Democracy Collaborative, examines the investing landscape for potential opportunities in employee ownership. The report, Impact Investing and Employee Ownership, reports on the results from six months of research showing that the opportunities for impact investors to support employee ownership are limited, but that an investing infrastructure is beginning to emerge across asset classes.
ENEROC LLC—the inaugural business of the Market Driven Community Corp.—has entered into an agreement to be a subcontractor for an LED lighting installation project at Rochester General Hospital...read more
Founded in 1934 by a small group of teachers who pooled their funds to make loans to other teachers, Westerra Credit Union now has more than 90,000 members and total assets exceeding $1 billion. Through its school grant program, Westerra has remained focused on supporting teachers by providing small grants to help teachers purchase materials and cover costs related to afterschool and other programs. The credit union also provides free financial education programs and sponsors a range of community events.
With roots back to 1940, Connex Credit Union now has assets valued over $450 million, more than 45,000 members, and 7 branches across the New Haven region. Committed to improving the lives of its members, Connex supports a range of charitable and community programs, including its Coins for Change initiative, which donates 100 percent of the small fee required to use its coin cashing machines to community nonprofits. Connex also offers free financial education workshops and special accounts targeted towards teens and students.