Financing & Financial Services

Our first stop is another component allied with Mongragon University called SAIOLAN. It's an incubator project for helping to launch new coops and high-tech businesses as well as training new entrepreneurs.
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Most new small businesses fail. That's a fact, whether they are in the Basque Country or in the U.S. Or anywhere else. Yet the Mondragon Coops, which all started as small worker-owned businesses, have hardly ever failed. Why? The key is in Father Jose Maria Arizmendi's original founding conception of cooperatives as the interlocking of school, factory and credit union.
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Our topic this morning is the wider range of the cooperative movement, both in the Basque Country and Spain. Mondragon is a part of the Basque Cooperative Confederation. There are currently 755 cooperatives in the Basque Country, and only 80 of them are the worker-owned MCC coops. There are a total of 537,000 members of all the coops, but only 54,919 are worker members, and 37,860 of these are the MCC worker-owners. 

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...As we left, many in our group were debating the pros and cons of global economic justice. I shared their concerns, but I also saw something else. Here was the beginnings of some of the most advanced productive forces in the world, the means of both economies of abundance and the means of clean and safe renewable energies and far lighter ecological footprints.
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I'm with a group of 25 social activists on a study tour organized by the Praxis Peace Project. Our focus is the Mondragon Cooperative Corporation, a 50-year-old network of nearly 120 factories and agencies, involving nearly 100,000 workers in one way or another, and centered in the Basque Country but now spanning the globe. We're here to study the history of these unique worker-owned factories, how they work, why they have been successful, and how they might be expanded in various ways as instruments of social change.
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The Evergreen cooperatives in Cleveland, Ohio was the story everyone wanted to hear at the opening session on Saturday Aug. 7, 2010 of the U.S. Federation for Worker Cooperatives conference in Berkeley. 

Evergreen Cooperative Laundry managers take ACE conference attendees on a tour of the facility. CEO Jim Anderson gives a workshop on the cooperatives.
The Association of Cooperative Educators established the John Logue ACE award at its 58th annual conference in Cleveland July27-30, 2010. Ohio Employee Ownership Center staff members, Bill McIntyre and Logue's wife, Olga Klepikova, talk about Logue's work, vision, "moxie" and his impact on Ohio and the U.S. Other ACE awardees for 2010 are also mentioned.
Equal Exchange, one of the largest and most successful worker co-operatives in the United States, is pioneering a model to provide capital for new co-ops.
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By Yvon Poirier
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By Ajowa Nzinga Ifateyo

Credit: www.fao.orgIn order to compete in a corporations-dominated economy, worker cooperatives need millions of dollars to finance large-scale businesses in manufacturing and production.

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By John W. Lawrence

At the National Conference of Democratic Workplaces, two workshops focused on the challenges of raising capital for worker cooperatives. The first workshop presented a series of case studies of innovative strategies for raising capital. In the second workshop "Building Community Wealth," lenders and foundations with a track record of investing in worker cooperatives described their mission.

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