Commonwealth #103Page 1Winter 2014

CommonwealthWinter 2014 #103

Cooperative Federal • Finance for the People since 1982Tel: (315) 471-1116 • www.cooperativefederal.org • info@coopfed.org

These days, you probably greet most credit card offers with a mixture of disgust and cynicism. And for good reason. They arrive in your mailbox, screaming about SPECIAL LOW RATES! and REWARD POINTS! and LOW, LOW FEES! And you know that beneath their glossy advertisements, these big banks and finance companies are as slimy as they come. The big print giveth, the small print taketh away. Most of these offers probably end up in your recycling bin without even being opened.

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Real Member StoryNot Your Average Credit Card

Cooperative Federal and ZeroDraft are partnering up to offer our members the opportunity to go green in a big way. Check out our brief bio of the organization below, and find out how you can get access to a free Home Energy Assessment, a host of energy saving products and services, and a range of affordable financing options including NYSERDA grants, on-bill recovery, and loans from your credit union.

What they doZeroDraft is a heating, cooling, and air-conditioning repair company that serves Syracuse, Albany and Buffalo. They offer a range of services, from insulation and replacement windows and doors to air conditioning and heating, for residential and commercial buildings. ZeroDraft launched the Go Green Partner Program with the goal of

News from Cooperative Federal, Syracuse’s community development credit union.

Eastside Office • Mailing Address 723 Westcott Street, Syracuse, NY 13210

Northside Office • Assisi Center800 North Salina Street, Syracuse, NY 13208

Southwest Office • Southwest Community Center401 South Avenue, Syracuse, NY 13204

Ahorra dinero, ayuda a nuestro planeta Cooperative Federal y ZeroDraft empieza “Go Green Partner

Program,” Un Programa ecológico

Cooperative Federal y ZeroDraft están asociándose para ofrecer a nuestros socios la oportunidad de “ecologizarse” en gran manera. Lee nuestro breve comentario acerca de la organización, y entérese de como usted puede acceder a una evaluación gratis de energía de casa, un gran cantidad de productos y servicios que le pueden ayudar a ahorrar energía, y un rango de opciones de financiación económicas (incluyendo becas de NYSERDA, y préstamos desde su cooperativa de ahorros y crédito).

Lo que hacen

ZeroDraft es una compañía especializada en calefacción, enfriamiento y reparación del aire acondicionado que sirve a Syracuse, Albany y Buffalo. Ellos ofrecen un rango de servicios, desde el aislamiento térmico y calefacción, para casas residenciales así como edificios comerciales. ZeroDraft lanzó el programa de “Go Green” con la meta de conectar más familias a programas de eficiencia de energía, e incrementar la participación en el Funcionamiento Casero con Energy Star mientras se reduce las emisiones de carbón. Mediante esta asociación, socios de la credit unión son elegibles para una tasación gratis de ático o sótano, asimismo exclusivos descuentos, actualizaciones y beneficios.

Lo que usted puede recibir

Hacerse más ecológico empieza con una tasación de energía

Co-op SummitReal Member StorySave Money, Help Our Planet

Syracuse Peace Council

Kicking it UP a Notch

In this issue... (Click to jump to a story)

Save Money, Help Our PlanetCooperative Federal and ZeroDraft begin “Go Green” Partner Program

Commonwealth #103 Page 2 Winter 2014

connecting more households to energy efficiency programs and increasing participation in Home Performance with Energy Star™ while reducing carbon emissions. Through this partnership, members of the credit union are eligible for a free Home Energy Assessment from basement to attic, as well as exclusive discounts, upgrades and perks.

Why we like them• They’re local. ZeroDraft serves Central New York and the

Capital District, with one of two physical offices located in East Syracuse.

• They’re legit. The company has certifications and qualifications from a number of organizations, including the Better Business Bureau, Building Performance Institute, NYSERDA and Energy Star. You can also just ask for a testimonial from a satisfied customer, there are lots!

• They share our values. As a member of Cooperative Federal, we know you are already making smart

financial decisions that will benefit you, as well as our community. ZeroDraft could help you to reduce your energy costs, and that’s good for your wallet as well as our community and our planet.

What you can receiveGoing green starts with a free, no-obligation Home Energy Assessment. You’ll even get some goodies, like free compact fluorescent light bulbs, outlet insulators, and a $50 gas card. Then, Zero Draft’s specialists will complete a thorough report outlining ways you can increase your energy efficiency and start immediately reducing your energy bills. They’ll also screen you for eligibility under NYSERDA grant programs, to see if you’re eligible for up to $13,000 in grants for recommended improvements, help you apply for those grants, and assist you with applications for on-bill recovery of any improvements not funded by grants. On-bill recovery means that your monthly bill will stay the same, but a portion of your payment will go toward a loan backed by NYSERDA. Of course, Cooperative Federal can help you with any other financing you may need.

How you can get startedSign up for your free energy assessment at www.getzerodraft.com/syracusecooperativefcu, or call Zero Draft at 800-455-9376.

Save Money, Continued

-Rachel Greene, Executive Assistant

Ojo, Continua

ZeroDraft could help you to reduce your energy costs, and that’s good for your wallet as well as our community and our planet.

de casa gratis, sin obligación. Aun mas, usted recibirá algunos regalitos, como bombillas fluorescentes compactas, insuladores de toma de corriente, y una tarjeta regalo de gas de $50. Después, los especialistas de ZeroDraft completarán un informe exhaustivo que destaca maneras en que usted puede aumentar la eficiencia de energía e inmediatamente empezar a reducir sus gastos de energía. Además, ellos revisarán si usted cumple los requisitos para el programa de beca de NYSERDA, lo cual ofrece hasta $13,000 para mejoras recomendadas. Claro, Cooperative Federal le puede ayudar con cualquier otra necesidad financiera que usted tenga.

Como puedes comenzar

Regístrate para una valoración de energía gratis en www.getzerodraft.com/syracusecooperativefcu, o llama a ZeroDraft 800-455-9376.

When you transfer your balance to Coop Fed’s VISA Credit Card, you can keep the convenience – but lose the big bank.

• No balance transfer fees• No teaser rates• No gimmicks

Support financial education and local lending. Call 473-0242 or visit www.coopfed.org/creditcard.

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Common Cents NominationsOpen through March 1st!

Nominate your favorite Syracuse non-profit for a 2014 Common Cents Award. Complete an entry

form in any lobby, or learn more atwww.coopfed.org/commoncentsawards.

Commonwealth #103Page 3Winter 2014

Real Member Story, Continued

-Meagan Weatherby, Program Sustainability & Outreach Coordinator

“Fat Cat Corp.” Coop Fed SavingsStarting Balance $4,900 $4,900Interest Rate 29.9% APR 29.9% APRMinimum Payment 3% of balance 3% of balanceTime to Repay 520 months

(43 yrs + 4 mos)136 months(11 yrs + 4 mos)

384 fewer months(32 years)

Total Interest Paid $22,150.00 $1,367.24 $20,782.76

However, just like Cooperative Federal is not like other banks and credit unions, our credit card is truly not like other credit cards. From the modest rates we charge (with no teasers), to the conspicuous lack of gimmicks to lure you into spending, it’s a back-to-basics card with clear, understandable terms – and no balance transfer fees, ever. We know that more credit card debt is probably the last thing you need; what you really need is to make paying your existing debts faster and easier.

Jess C. is one of the many members using our credit card to do just that. Her old card had a balance of $4,900, and a whopping interest rate of 29.9% APR. Credit unions aren’t even legally allowed to charge interest rates that high. At Cooperative Federal, she qualified for a rate of just 8.2% APR. Here is the dollar impact this balance transfer will have.

Scenario A: Minimum Payments.If Jess were to simply make the minimum payment (3% of the outstanding balance in any given month), with no new purchases or cash advances, switching to Cooperative Federal will cut her repayment term down by 384 months. That is 32 YEARS worth of payments. All told, she will pay about $1,367 in interest to Coop Fed – that’s over $20,000 less than she would have paid to the “Fat Cat” credit card company.

“Fat Cat Corp.” Coop Fed SavingsStarting Balance $4,900 $4,900Interest Rate 29.9% APR 29.9% APRFlat Payment $147 $147Time to Repay 73 months

(6 yrs + 1 mo)38 months(3 yrs + 2 mos)

35 fewer months(2 yrs and 11 mos)

Total Interest Paid $5,703.37 $679.54 $5,023.83

Scenario B: Flat Payments.Of course, we would never recommend that Jess – or anyone else – make only the minimum payment unless she really has no choice. If Jess continues to make the same monthly payment even after her balance and minimum payment start to decrease, she will pay off her Cooperative Federal card in a little more than 3 years. That is more than 3 times faster than paying only the minimum on her Cooperative Federal card, and more than 13 times faster than paying only the minimum on her “Fat Cat” card.

A shorter repayment term also means tremendous savings on interest over the life of the loan. With a flat monthly payment on her Cooperative Federal card, the total amount of interest paid will shrink to a wee $680. Even with an apples-to-apples comparison – that is, making the same flat payment on her old card versus her new Coop Fed card – Jess would be looking at over $5,000 in interest savings.

Any way you slice it, this balance transfer was a huge win for Jess. If you’re paying high interest rates, we can do the same for you. Our staff would be pleased as punch to crunch your numbers, or if you’re more of the DIY type, there are many online calculators you can use. (The one used in this story is at http://www.calculatorweb.com/calculators/creditcardtrancalc.shtml) You can also access our credit card application at www.coopfed.org/creditcard.

One final thought, before you scamper off to play with loan calculators: SOCIAL RESPONSIBILITY. Helping our members save money and reach their goals is half of our mission; the other half is being part of the movement to strengthen Syracuse neighborhoods, rebuild our local economy, and foster social and economic justice. When you’re deciding where to pay interest, try to keep in mind WHO you’d rather pay interest too – the fat cats, or your local community credit union?

Just like Cooperative Federal is not like other banks and credit unions, our credit card is truly not like other credit cards. Jess C. (above) is one of the many

members who is using our credit card to pay down her debt in a

fast and easy way.

8.2% APR

8.2% APR

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Cooperative Thinking | A Column by Carl Mellor

Let’s envision a one-day conference bringing together people associated with cooperatives in Buffalo, Syracuse and other New York State locales. Let’s throw in a few speakers regarded as authorities on some aspects of cooperatives. Finally, let’s schedule some workshops devoted to tasks necessary for starting and running a cooperative.

The previous paragraph outlines what happened in Syracuse on September 28, 2013, the date for the 2013 New York Cooperative Summit. In this column, my goal isn’t to recap everything that happened during the summit. (Editors’ Note: If you do want the full scoop on the Summit, browse over to www.newyorkcooperative.net.) Rather, I want to emphasize three themes from the conference: optimism, on-the-ground reality, and participation/accountability.

First, it’s not difficult to be optimistic when you’re sitting in a room with lots of people committed to the cooperative movement. Buffalo’s Breadhive Bakery, Rochester’s Anthill housing cooperative, the Syracuse Real Food Co-op, and our own Cooperative Federal all had staff or members on site. That’s just a few of the cooperatives represented by the 100+ Summit attendees.

The presence of folks from various community-based organizations wasn’t the only reason for a positive attitude. Richard Wolff, who’s studied workplace democracy for several decades, talked eloquently about prospects for growth in the cooperative sector.

To begin, the dismal state of the United States economy has promoted greater interest in alternatives to a market-based system. The economic downturn, which began in 2008, has resulted in millions of Americans unemployed or underemployed, vacant shops and factories, and a vast waste of human capital.

Wolff concludes that the current economic structure can no longer deliver the goods for many citizens. He considers this to be a structural problem, not something likely to change in a few years. He also argues that capitalism, in its current state, is extremely unstable. And he notes that from a historical perspective, capitalism is a relatively new development, one that emerged from feudalism’s collapse.

Hope and Progress in the Cooperative EconomyWhat are the possibilities for cooperatives today? Wolff has two major positions, starting with the notion that as the number of cooperatives grows, it’s harder and harder to dismiss them as purely marginal. Beyond that, societal transitions begin small and then expand. Thus, change may happen gradually, but it’s reasonable to assume that cooperatives will play a larger role in our society.

A second speaker, Brendan Martin, of the Working World, spoke of how his organization provided financial and logistical support for workers at Republic Windows, a Chicago factory. When the owners decided to shut down the Chicago operation, the workers took over the factory and transformed it into a manufacturing cooperative.

In his talk, Martin emphasized he was only a consultant; the workers built an organization and utilized their own expertise. When it was necessary to move to a new location, they developed a cost-effective plan for moving equipment. Moreover, they reached agreement on how to organize work stations at the new site.

Making those decisions wasn’t easy, and it didn’t happen overnight. Yet, the cooperative did survive and continues to survive five years after the factory takeover. At the same time, the workers face ongoing challenges as they continue to make, sell and distribute windows.

Martin and other speakers touched on the admirable goal of growing the cooperative movement, of encouraging participation in various co-op groups. However, it’s not enough to merely voice support for the movement; please take the time to join a credit union or shop at a store run on a cooperative basis.

Similarly, cooperatives need to work together whenever possible. In several communities throughout New York State, there’s long been a link between credit unions and food co-ops. Melissa Marquez, of the Genesee Co-op Federal Credit Union, talked about those connections and the importance of growing community institutions.

The notion of accountability emerged as a major theme in a presentation given by Estaban Kelly of the New Economics Institute. After discussing different types of co-ops, and strategies for encouraging people to join these cooperatives, he moved on to the importance of working together in a cooperative organization.

In a small cooperative with ten or twelve employees, everyone’s contribution is essential. In credit unions, members need to behave responsibly, to acknowledge a group that

Featured Speaker, Richard Wolff, believes that the

current economic structure can no longer deliver the goods for many citizens.

Photo source: https://www.facebook.com/pages/

Richard-Wolff

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Ojo, Continua

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Cooperative Federal has over 40 Field of Membership (FOM) organizations. Volunteers, members, and employees of these groups can join our credit union regardless of where they live or work. This spotlight is on a grassroots peace and social justice organization that has been a member of our credit union for decades.

The Syracuse Peace Council (SPC) is the oldest grassroots organization of its kind in the United States. Since 1936 they’ve been working to create a world where war, violence, exploitation, and unjust power relationships no longer exist. To move toward their vision for the future, SPC holds a variety of events and campaigns that aim to educate, agitate, and organize the community in different ways. One of their most anticipated events is the Plowshares Craftsfair and Peace Festival, an annual Holiday marketplace that promotes justice, peace, compassion, and environmental sustainability. They also hold film screenings, open houses, and host a variety of speakers, including international activists.

In the past 5 years, SPC has made much progress in bringing to light little-known issues that are now majorly debated across the nation. They were one of the first organizations to educate the public about the dangers of hydrofracking and were heavily involved in the early

Member Organization SpotlightThe Syracuse Peace Council

stages of the movement. Drones are another important subject that SPC brought to the public’s attention through workshops, demonstrations, articles, and other collective action. “In 2009 no one knew what a drone was,” explains Ursula Rozum, an organizer with SPC. “Now there’s congressional hearings. It’s cool to see the progress of certain issues.” In fact, in mid-December SPC’s Anti-Surveillance Drone Resolution was unanimously approved by the Syracuse Common Council. Successes like this show the impact SPC’s campaigns have on the social climate of our community.

SPC has been a member of Cooperative Federal since 1986, only a few years after we first opened our doors.

Cooperative Federal was a natural fit for SPC. As a combination of a credit union and a non-profit community development organization, Coop Fed aligned well with SPC’s mission. Rozum explains, “We both have a vision of the future that is cooperative.”

To learn more about SPC and how to get involved, stop by the Fountain of Life Church (700 South Ave.) on February 23 from 5:00-7:00 PM during their event, Aaron Dixon Speaks: Memoir of a Black Panther Party Captain. For more events like this, visit www.peacecouncil.net/calendar.

-Mary Beth Schwartzwalder Marketing Specialist

SPC attended the Syracuse Bus to Crossroads Rally in Albany.

Historia Real de una SociaEsta no es su tarjeta de crédito promedio

Supongo que no te gusta recibir más ofertas de tarjetas de crédito que llegan por correo, promocionando falsas promesas de ¡ESPECIALES TASAS BAJAS, PUNTOS DE REGALO y cargos mínimos! Y sabes que debajo de todos los anuncios brillantes, estos bancos enormes y compañías de finanzas son mentirosos. Es probable que la mayoría termine en su papelera de reciclaje sin abrir.

De todas formas, así como Cooperative Federal no es como otros bancos y cooperativas de crédito, nuestra tarjeta de crédito verdaderamente no es como otras tarjetas de crédito. Desde las tarifas bajas que cargamos (sin bromas), hasta la falta de trucos para hacer que gastes más. Es una tarjeta sencilla con términos claros y entendibles—y nunca hay cargos para transferir sus saldos, nunca.

Jess C. es una de nuestros varios socios que han usado nuestra tarjeta de crédito para esto precisamente. Su tarjeta anterior tenía un balance de $4,900, y una tasa de interés enorme de 29.9% APR. Las cooperativas de crédito

no pueden cargar tasas de interés tan altas legalmente. En Cooperative Federal, Jess calificó para una tasa de solo 8.2% APR. A continuación lea el impacto financiero que esta transferencia de saldos va a tener.

Escenerio A: Pagos mínimos

Si Jess iba a pagar solo el pago mínimo (3% del balance pendiente en cualquiera mes), sin nuevas compras o adelanto de fondos, cambiar a Cooperative Federal va a acortar su término de repago por 384 meses. Este es equivilante a 32 AÑOS de pagos. Al final, ella va a pagar sobre $1,367 en interés a Cooperative Federal—unos $20,000 menos que si hubiera pagado a las compañías “Fat Cat” de tarjetas de crédito.

Escenario B: Pagos fijos

Claro, nunca habríamos recomendado que Jess — o cualquiera otra persona— pague el mínimo, a menos que no tenga otra opción. Si Jess continúa haciendo el mismo pago mensualmente después de su balance, y luego su pago mínimo, ella va a pagar completamente su tarjeta con Cooperative Federal en 3 ¼ años. Será 3 veces más rápido que sólo pagar el mínimo en su tarjeta de “Fat Cat.”

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This fall, Cooperative Federal assisted in the launch of UP Start Syracuse – a collaborative program facilitated by the Northside Urban Partnership to empower the next generation of urban entrepreneurs to start businesses. UP Start Syracuse aims to tap the hidden talents and ambitions of inner city residents, empowering them to become economic leaders in their neighborhoods and restore vitality to Syracuse’s urban business districts. The free program has flexible and accommodating hours, and its curriculum is tailored to help individuals succeed in business, achieve financial self-reliance, and contribute to their family and the community.

During the first phase, aspiring entrepreneurs were enrolled in the training course appropriate to their experience through the program’s unique two-track system. The UP Start Seminar, co-taught by Coop Fed staffer Kira Crawford, provided a tailored curriculum for individuals needing education and experience running a

US-based business. For those with advanced education and US-based business experience, the Onondaga Small Business Development Center’s Fast Track to Business Start Up provided a faster-paced seminar.

From the 20 seminar participants, six entrepreneurs were selected to enter the program’s second phase, receiving comprehensive support and incubation services as they work to grow their businesses. In November, over 200 people came out to celebrate the launch of the program and these phase-

two entrepreneurs at UP Start Presents: A New Era of Urban Entrepreneurship. The inaugural event featured business pitches from the program’s first class of business owners: Hari Bangaley Adhikari, The Bhutan House Restaurant; Curtis Washington, New York Fusion; Emma June Voigt, Northside Messenger; Fesseha Kahsay, DSM Earth Management; Aaron Metthe, Salt City Coffee; and Loretta Bachus, Sole of a Diva. It also raised over $4,000 towards seed funds for the entrepreneurs.

Over the coming months, the six entrepreneurs will have access to a network of mentors; technical assistance in the areas of business planning, financial planning, marketing, and other specialized fields such as capital resources; and launch assistance. Through the process, entrepreneurs will work with Cooperative Federal to access capital in several ways, including revenue-generating marketplace experiences, matching grants, and seed capital loans. The incubation stage will also allow entrepreneurs to put their businesses to the test with hands-on marketplace experience. To received updates on the progress of the UP Start Syracuse entrepreneurs, join Northside UP’s mailing list by visiting http://eepurl.com/NVaXb.

UP Start Partnering Organizations include Cooperative Federal, Catholic Charities of Onondaga County, Hopeprint, Onondaga County Small Business Development Center, Northside Urban Partnership, ProLiteracy, SUNY Educational Opportunity Center, SCORE, SyracuseFirst, Syracuse Technology Garden, St. Joseph’s Hospital Health Center. UP Start Syracuse is made possible thanks to the Central New York Community Foundation’s CNY85 Collaborative Impact Prize.

Kicking it UP a NotchUP Start Syracuse Introduces a New Wave of Urban Entrepreneurs

-Stasya Erickson, Board of Directors

Our entrepreneuers just before presentations for UP Start Presents.

UP Start instructor and Coop Fed employee, Kira Crawford, teaches in the UP Start classroom.

Through the process, entrepreneurs will work

with Cooperative Federal to access capital in

several ways, including revenue-generating

marketplace experiences, matching grants, and seed

capital loans.

Commonwealth #103Page 7Winter 2014

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Ojo, Continua

What a great, enthusiastic crowd! Over 200 people came out to celebrate the launch of UP Start Syracuse, raising

$4,000 toward seed funds for the presenters.

Loretta Bachus is passionate about starting a shoe boutique that serves customers seeking larger sizes and innovative

styles with her business, Sole of a Diva.

Menos pagos también representan ahorros enormes en interés durante el periodo del préstamo. Con un pago fijo cada mes en su tarjeta de Cooperative Federal, el sumo total del interés pagado será reducido a una minúscula suma de $680. Y si comparamos manzanas con manzanas, mantentiendo el mismo pago de la tarjeta de Coop Fed, Jes ahorrará cerca de $5,000.00 en intereses.

De todas maneras, esta transferencia fue una gran victoria para Jess. Si tú estás pagando tasas altas de interés, podemos hacer lo mismo por ti. A nuestro personal le agradaría “hacer los números” contigo, o si prefieres, puedes hacerlo tú mismo; hay muchos calculadores en la red que puedes usar (Encuentra la calculadora que usamos en esta historia: http://www.calculatorweb.com/calculators/creditcardtrancalc.shtml) También puedes entrar en nuestra aplicación de tarjeta de crédito aquí: www.coopfed.org/creditcard)

Pensando en la Cooperativa Esperanza y progreso en la economía cooperativa

Imagina una conferencia uniendo a la gente asociada con organizaciones cooperativas en Buffalo, Syracuse, y otras partes del Estado de Nueva York. Ahora imagina oradores reconocidos como autoridades en varios aspectos de las cooperativas. Finalmente, imagina algunos talleres destinados a todas las tareas necesarias para empezar y operar una cooperativa.

El párrafo anterior resume lo que pasó en Syracuse en el 28 de Septiembre de 2013, la fecha de la Cumbre Cooperativa de Nueva York. Una panadería cooperativa (Breadhive Bakery en Buffalo), una cooperativa de vivienda en Rochester (Anthill housing cooperative), Syracuse Cooperativa de comida, y nuestro propio personal de Cooperative

Federal; todas estas organizaciones fueron representadas. En adición, Richard Wolff, quien ha estudiado la democracia en el lugar de trabajo por varias décadas, hablaba elocuentemente sobre oportunidades de desarrollo en el sector cooperativo. El sostuvo que mientras las cooperativas crecen, es más y aun más difícil desestimarlas como puramente marginal. Además, transiciones de la sociedad empezaron pequeñas y luego se expandieron. Así que, el cambio puede tomar lugar gradualmente, pero es razonable suponer que las cooperativas van a jugar un roll mayor en nuestra sociedad.

Un segundo orador, Brendan Martin, de Working World, habló de cómo su organización proporcionó apoyo logístico y financiero a trabajadores en Republic Windows, una fábrica de Chicago.

Finalmente, Sarah Ludwig, del Proyecto Nuevo de la Economía en la ciudad de Nueva York, discutió el fundamento principal para cooperativas—proporcionando alternativas a las instituciones que no llenan las necesidades comunes de los ciudadanos ordinarios. Ella puso énfasis en el hecho de que no basta entender la gravedad de lo que ha pasado en los barrios de ciudad en ciudad. La solución consiste en organizaciones sin fines de lucro, basadas en la comunidad.

La cumbre fue sólo el inicio de una nueva época para las cooperativas en Nueva York. Para mantenerse informado con la nueva Red de Cooperativas de Nueva York emergente, encuéntrala en Facebook.

A un nivel superiorUP Start presenta una nueva ola de empresarios urbanos

Este otoño, Cooperative Federal asistió al lanzamiento de UP Start Syracuse—un programa de colaboración facilitado por la asociación de negocios del “northside”, para fortalecer la

Commonwealth #103 Page 8 Winter 2014

Federally insured by NCUA

Sign-up to receive theCommonwealth Newsletter

in your email!Visit www.cooperativefederal.org/subscribe

Signing up is safe! We never share our email list with third parties.

-Traducido por Rachel Greene y Patricia Farfan-Cáceres

Ojo, Continua

Got Feedback?We want to hear from you.

Send questions & comments to:

Board of Directors: board@coopfed.orgStaff - General: info@coopfed.org

Staff - Member Service:memberservice@coopfed.org

Syracuse Cooperative Federal Credit Union - Established 1982Our mission is to rebuild the local economy in ways that foster justice, serve people and communities that are

underserved by for-profit financial institutions, and responsibly manage our members’ aggregate assets.

Hope and Progress, Continuedprovides an alternative to large banks and gigantic financial entities.

From Kelly’s perspective, cooperatives need to do a better job of “calling out” people who don’t respect a cooperative structure. This isn’t about leaping into a punitive mode on a daily basis. It’s about dealing with people on an honest, direct basis, about discussing what a cooperative format entails.

Finally, Sarah Ludwig, of the New Economy Project in New York City, discussed a prime rationale for cooperatives – providing alternatives to institutions that don’t meet ordinary peoples’ needs. She pointed to an economic breakdown in center-city America, a crisis precipitated by abusive mortgage practices. It’s led to people losing their homes, to vacant houses and devastated neighborhoods, and lost wealth for many city residents. Ludwig said this crisis didn’t begin in 2007; it started during the late 1990s.

She emphasized that it’s not enough to understand the gravity of what’s happened in city neighborhoods from city to city. The solution lies in non-profit, community-based institutions.

The Summit was just the beginning of a new era for cooperative organizing in New York. To stay connected with the newly emerging NY Cooperative Network, find their Page on Facebook.

-Carl Mellor, Volunteer Columnist

próxima generación de emprendedores urbanos para empezar negocios. UP Start Syracuse pretende escubrir los talentos y ambiciones internas de los residentes de la ciudad, capacitándolos para que se conviertan en los líderes económicos en sus vecindarios y restaurar vitalidad a los districtos de negocios urbanos de Syracuse.

Desde los 20 participantes, 6 emprendedores fueron seleccionados a entrar en la segunda fase del programa, recibiendo un apoyo integral y servicios de incubación mientras crecen sus negocios. En Noviembre, más de 200 personas salieron para celebrar el lanzamiento del programa. El evento inaugural destacó los campos de negocio del programa de la primera clase sobre dueños de negocios: Hari Bangaley Adhikari, Restaurante Bhutan House; Curtis Washington, Fusión Nueva York; Emma June Voigt, Northside Messenger; Fesseha Kahsay, DSM Manejo de la Tierra; Aaron Metthe, Salt City Coffee (un café); and Loretta Bachus, Sole of a Diva (una zapatería).

Durante los próximos meses, 6 emprendedores van a tener acceso a una red de mentores para ayudarles mientras se preparan a lanzar sus negocios. Durante el proceso, los emprendedores van a trabajar con Cooperative Federal para acceder a capital en varias maneras, incluyendo experiencias de generar ingresos en el mercado, becas, y préstamos de capital inicial. Esta etapa también permitirá a los emprendedores hacer pruebas prácticas de sus negocios con experiencia en el mercado. Para recibir actualizaciones en el progreso de los emprendedores de UP Start Syracuse, únete a nuestra lista de correo.

Sunday, March 16th at 3:00 pm at the Westcott Community Center (826 Euclid Avenue)Join Cooperative Federal’s board, staff, and your fellow members for the 2014 Annual Meeting & Dinner! The meeting runs from 3:00 to 5:00 pm and a vegan-friendly dinner will take place from 5:00 to 7:00 pm. Please

RSVP no later than March 9th by calling (315) 473-0214 or emailing info@coopfed.org. If you wish to join us for dinner, tickets are $9.75 for adults and $5.00 for kids.

Please include payment or authorize a transfer.

ANNUAL MEMBERSHIP MEETING & DINNER!