[W]e're seeing communities come together to meet their own needs by cultivating community gardens, sharing meals, supporting local businesses, running repair cafes and other workshops, and collaborating on neighborhood upliftment projects. 

Shared Capital seeks a diverse pool of candidates representing different backgrounds, cooperative experiences and geographic regions. Many different skills and expertise add value to our board, including knowledge and experience in cooperative governance, finance, lending, investing, law, marketing, member engagement, cooperative development and CDFIs. Most importantly we are looking for people who are committed to our mission and our work and able to participate fully on the board and at least one committee.

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TA: Thank you for agreeing to talk to me. It would be great, to start, to hear a little bit about the history of your co-op, what you are trying to do and what your goals are for the future.

Jessica Gordon-Nembhard, Ph.D., Professor of Community Justice and Social Economic Development, and author of Collective Courage: A History of African American Cooperative Economic Thought and Practice discusses the her book and upcoming projects with host, Vernon Oakes on Everything Co-op.
 
During February, Everything Co-op celebrates Black History Month by focusing on the Association for the Study of African American Life and History's Theme.

I want to tackle today what I think is quite a difficult question.  It’s this:  what responsibility do ordinary members of a co-operative have, if their elected directors are not making a very good fist of things in terms of governance and member democracy?

Cost-of-capital is central to economists’ thinking about how firms should (and do) invest their financial capital, and to measuring the value of a firm. Brent Hueth will argue that the cost of “equity” capital for many co-operative businesses is, if not zero, then close to it. He will interpret the relevance of this finding in the context of private capital structure and investment decision making, as well as public tax and regulatory treatment of co-operatives.

Relatively little attention has been paid to democratic and critical approaches that look into the embedded power dynamics that influence who is allowed access to organizational decision making: whose voices get heard and whose get left out. Where practice is concerned, we see a “democratic deficit” in board governance—that is, an absence of democratic structures and processes.1 Many nonprofit boards fall short of being broadly representative of the public.

It is becoming increasingly obvious to people that profit maximization has very little to do with meeting actual human or ecological needs. According to the Economic Policy Institute and other researchers, corporate profits and worker productivity rise independently of workers' real wages. And increases in corporate profit are more likely to enrich shareholders than to be reinvested in new jobs with good wages. We need better ways of doing business.

Shared-equity homeownership programs just had a big win: Fannie Mae and Freddie Mac (“the Enterprises”) committed in their Underserved Markets Plans to increase access to mortgages for shared-equity homebuyers over the next three years.

It’s 1939 and a group of famous civil rights leaders are gathering to discuss the future of the Negro race…and you’re invited.

In an increasingly competitive grocery market, it is common to recruit and train with a focus on business acumen. A prudent board will hire management who have the skills to run the business. The question remains, how is managing a cooperative business different? 

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