June 2018 Newsletter

2018 Cooperative Forum 

Working Better Together: Cooperatives Stabilizing Work in a Disruptive Economy

 The 2018 Cooperative Forum featured leaders from three Shared Capital member co-ops that have formed to address challenges in the current economy. On a panel moderated by Shared Capital’s Christina Jennings, Peter Ibik of MontCo Union Taxi Co-op spoke of how a union organizing drive among Greater DC Metro led him to organize a union taxi co-op. Lucha Silva of eQuality HomeCare Co-op in Texas shared how coming to work in a worker co-op in Texas was transformative after working in the homecare field for many years as a single mother. Patrick Martin shared stories of the path to employee ownership that he and his co-workers followed as they bought their employer A-1 Builders & Adaptations Design Studio in Bellingham, Washington, and converted it to a worker co-op. A very special thank-you to Peter, Lucha and Patrick for coming to the Twin Cities to share their stories and to our sponsors for making the Cooperative Forum possible.

Special thanks to our guest speaker Hanan El-Youssef from Saint Mary’s University Co-operative Education Program who spoke about the important link between education and cooperatives.

2018 Annual Member Meeting

Shared Capital Executive Director, Christina Jennings, and Board officers Alex Betzenheimer, Dana Curtis and Thomas Becket, led a brief annual business meeting for members. They reported on the financial performance, outcomes and impact of Shared Capital’s work. In 2017, Shared Capital:

• Made $3 million in loans;
• Supported 7 start-ups, 1 conversion and 7 expansions;
• Borrowers created and maintained 723 jobs; and
• Provided 95% of their financing to co-ops by and for low income communities, women and people of color.

Special thanks to Ann Fedorchak of National Cooperative Bank who spoke about our partnership in providing capital to co-ops nationwide.

Many thanks to all members, allies and members of the board who attended the annual meeting.See Shared Capital 2017 Audited Financial Statements
See the Annual Meeting Program.
Watch the Meeting Presentation.