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A cooperative is "an autonomous association of persons united voluntarily to meet their common economic, social and cultural needs and aspirations through a jointly owned and democratically-controlled enterprise". Cooperatives are democratically controlled by their members, with each member having one vote in electing the board of directors. Cooperatives may include:
Microfinance is a category of financial services targeting individuals and small businesses who lack access to conventional banking and related services. Microfinance includes microcredit, the provision of small loans to poor clients; savings and checking accounts; microinsurance; and payment systems, among other services. Microfinance services are designed to reach excluded customers, usually poorer population segments, possibly socially marginalized, or geographically more isolated, and to help them become self-sufficient. ID Ghana is an example of a microfinance institution.
Small businesses are types of corporations, partnerships, or sole proprietorships which have fewer employees and/or less annual revenue than a regular-sized business or corporation. Businesses are defined as "small" in terms of being able to apply for government support and qualify for preferential tax policy. The qualifications vary depending on the country and industry. Small businesses range from fifteen employees under the Australian Fair Work Act 2009, fifty employees according to the definition used by the European Union, and fewer than five hundred employees to qualify for many U.S. Small Business Administration programs. While small businesses can also be classified according to other methods, such as annual revenues, shipments, sales, assets, or by annual gross or net revenue or net profits, the number of employees is one of the most widely used measures.
Accion is an international nonprofit. Founded as a community development initiative serving the poor in Venezuela, Accion is known as a pioneer in the fields of microfinance and fintech impact investing.
A worker cooperative is a cooperative owned and self-managed by its workers. This control may mean a firm where every worker-owner participates in decision-making in a democratic fashion, or it may refer to one in which management is elected by every worker-owner who each have one vote.
A social enterprise is an organization that applies commercial strategies to maximize improvements in financial, social and environmental well-being. This may include maximizing social impact alongside profits for co-owners.
The social economy is formed by a rich diversity of enterprises and organisations, such as cooperatives, mutuals, associations, foundations, social enterprises and paritarian institutions, sharing common values and features:
A community land trust (CLT) is a nonprofit corporation that holds land on behalf of a place-based community, while serving as the long-term steward for affordable housing, community gardens, civic buildings, commercial spaces and other community assets on behalf of a community. CLTs balance the needs of individuals who want security of tenure in occupying and using land and housing, with the needs of the surrounding community, striving to secure a variety of social purposes such as maintaining the affordability of local housing, preventing the displacement of vulnerable residents, and promoting economic and racial inclusion. Across the world, there is enormous diversity among CLTs in the ways that real property is owned, used, and operated and the ways that the CLT itself is guided and governed by people living on and around a CLT’s land.
Cooperative banking is retail and commercial banking organized on a cooperative basis. Cooperative banking institutions take deposits and lend money in most parts of the world.
Cooperative economics is a field of economics that incorporates cooperative studies and political economy toward the study and management of cooperatives.
The California Community Foundation(CCF) is a philanthropic organization located in Los Angeles, California. Foundation Center, an independent nonprofit organization, ranks it among the top 100 foundations in the nation by asset size and total giving. Among all community foundations, CCF is 5th by total giving and 7th by asset size, as of the fiscal year that ended 6/30/12.
Micro financing in Tanzania started in 1995 with SACCOS and NGOs. It has since then contributed to the increasing success of international micro financing. Microfinance stills remains a relatively new in Tanzania since it has not penetrated yet. Since 1995, microfinance has been linked to poverty alleviation programs and women. The government made efforts to ensure commercial banks have continued to provide financial support to the small entrepreneurial business. However a microfinance National Policy was implemented in 2002 to encourage and support microfinances in the country. Since the implementation, micro financing was officially launched and recognized as a poverty alleviation tool. Due to its increase exposure and use in the nation, commercial banks have developed interests in to offer microfinance. There are various microfinance banks that functions as supporting institutions in the country that usually provide microfinance services. These may include the CRDB, National Microfinance Bank, and AKIBA. However there are also other few banks that are concerned with micro financing in Tanzania such as the PRIDE and SEDA, Tanzania Postal Bank and FINCA. Community and small banks have also expressed interest in the same including the NGOs and other non-profit organizations.
Wainwright Bank was a nationally recognized socially progressive bank in Boston, lauded as a "rebel with a cause making its reputation as a champion of social-justice causes, throwing its support behind everything from the gay-rights movement and affordable housing initiatives to immigration reform and the anti-Iraq war movement." There are 12 branch offices in Boston, Cambridge, Brookline, Newton, Watertown and Somerville. The current president is Jan A. Miller. Wainwright has made community development, affordable housing, civil and human rights, and other social issues a prominent focus of its activities and has a documented history of leadership in supporting social justice efforts. Wainwright was featured in three recent books on this topic: in 2005, Megatrends 2010: The Rise of Conscious Capitalism by Patrician Aburdene; in 2006, named as a “truly responsible and highly profitable firm that is changing business now” in The High Purpose Company by Christine Arena; and in 2008 in the Soul of a Leader by Margaret Benefiel PhD, CEO of Executive Soul and a teacher of spirituality and leadership at Andover Newton Theological School.
Financial inclusion is defined as the availability and equality of opportunities to access financial services. It refers to a process by which individuals and businesses can access appropriate, affordable, and timely financial products and services. These include banking, loan, equity, and insurance products. Financial inclusion efforts typically target those who are unbanked and underbanked, and directs sustainable financial services to them. Financial inclusion is understood to go beyond merely opening a bank account. It is possible for banked individuals to be excluded from financial services. Having more inclusive financial systems has been linked to stronger and more sustainable economic growth and development and thus achieving financial inclusion has become a priority for many countries across the globe.
The Mortgage Industry Standards Maintenance Organization(MISMO) is a not-for-profit, wholly owned subsidiary of the Mortgage Bankers Association (MBA) responsible for developing standards for exchanging information and conducting business in the U.S. mortgage finance industry. It has more than 175 member organizations representing a cross-section of the residential and commercial mortgage industries.
Amalgamated Bank is an American financial institution. It is the largest union-owned bank and one of the only unionized banks in the United States. Amalgamated Bank is currently majority-owned by Workers United, an SEIU Affiliate.
Urban Land Conservancy (ULC) is a Denver based nonprofit organization established in 2003, that acquires, develops and preserves real estate assets for long-term community benefits. ULC acquires properties such as schools, future and current transit hubs, commercial space, and property identified as having community benefit. ULC also develops unique financing tools to aid in their real estate acquisitions.
Capital Impact Partners, or simply Capital Impact, is a congressionally chartered, District of Columbia nonprofit and certified community development financial institution that provides credit and financial services to underserved markets and populations in the United States. S&P Global issued Capital Impact its first rating in 2017.
A renewable energy cooperative is a decentralized, non-governmental initiatives of local communities and citizens to promote the production and consumption of renewable energy. It is formed by a group of community members, that shares a common long-term goal for a sustainable future of energy and works to advance the transition through active citizenship involvement. In this way, the citizens are prosumers: they act as both producers and consumers in an attempt to democratize energy supplies by shifting away from relying on large companies.
References
- ↑ John Curl (2012). For All the People: Uncovering the Hidden History of Cooperation, Cooperative Movements, and Communalism in America. PM Press. pp. 530–. ISBN 978-1-60486-582-0.
- ↑ Dubb, Steve (14 August 2018). "Historic Federal Law Gives Employee-Owned Businesses Access to SBA Loans". Nonprofit Quarterly. Retrieved 2018-08-16.
- ↑ Field, Anne (24 June 2017). "Will Impact Investors Embrace Employee-Owned Companies?". Forbes. Retrieved 2018-08-16.
