The Bite:
Community Investing finances loans for responsible wannabe homeowners and small businesses who might not qualify for traditional loans. Sit back and reap the returns while directly helping at the local level.
Wanna fatten your pocketbook and improve your 'hood while doing good?
05.17.2006
Submitted by idealbite on Wed, 05/17/2006 - 5:00pm.
The Benefits:
- Everybody’s doing it. Community Investing, the fastest-growing socially-responsible investment trend in the US, increased from $5.4 to $7.6 billion between 1999 and 2001.
- Quit worrying and let the “green” flow in. Community development banks are considered low-risk, and are insured up to at least $100,000 per depositor just like traditional banks.
- Many Community Investment institutions benefit the environment by informing borrowers on ways to improve home energy efficiency, financing businesses that minimize waste and backing the renovation (read: reusing) of deteriorated existing buildings.
Personally Speaking:
Co-op America just devoted an entire issue of their quarterly member publication to this concept, and Jen, being the eco-dork she is, made copies and sent to the Biting team members. (See first link below for some of their stellar content).
Wanna Try:
- 1% in Community Investing Campaign - move just 1% of your portfolio into Community Investments and create a whole lotta change.
- Community Investing Center - find everything you could ever care to know about Community Investing in one place.
- Community Investment Impact Calculator - gauge the impact your investment could have for underserved populations.
- Calvert Foundation - invest without having to choose between your wallet and your soul.
- Shorebank - another popular option.
Cocktail Fact
Mini 'hoods: Hibberts, ME; Ervings, NH; New Amsterdam, IN; and Lost Springs, WY each boast a population of 1.
Bang For The Bite
If 10,000 Biters each invested $1,000 in US-based Community Investment Institutions for just one year, 500 homes could be built or improved by underserved borrowers.
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