The Inner City of Milwaukee is seen as a perfect environment for starting a CREDIT UNION with the following motives:
*** To provide residential,small businesses and their staff an alternative to the financial systems that are in the Inner City now; banks, savings & loan, community financials, check cashing and quick loan sources.
*** To create a ''paper trail'' for investment purposes for members/stockholders; i.e., rental, home purchase, home rehab, vacation, education, car lease-purchase and entrepreneurship to name a few.
*** To train the members-stockholders of the Credit Union about Money Matters - checking, savings, investment, creating a portfolio.
*** To train members-stockholders about the ''credit system(s)'' and how to establish, correct or increase ratings.
*** To provide ''OWNERSHIP'' and a ''pool'' of operating funds for the membership/stockholders.
*** To expose the members-stockholders to the management of their credit union through their board of directors; and, the importance of working collectively and cooperatively for the betterment of individuals, families, business and the neighborhood.
*** To start Investment Clubs within the Credit Union.
CFNBA Business Leadership Council will lead the way in NEIGHBORHOOD NET WORTH and SELF-SUSTAINABILITY.
The creation of the Inner City Credit Union is estimated to take approximately one year.
More to come . . .
By Mg
