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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.
COCKTAIL FACT
Mini 'hoods: Hibberts, ME; Ervings, NH; New Amsterdam, IN; and Lost Springs, WY each boast a population of 1.
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home › tip library › Community Investing
Wanna fatten your pocketbook and improve your 'hood while doing good?
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.
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.
May 17,2006
Sponsor
So I've been quite proud of the fact that I stayed in Brooklyn for 4 whole years. 4 years ago, the Red Hot Chili Peppers' last album provided the soundtrack for my initial move here, and today, their latest is providing the soundtrack for what will be my last summer in Brooklyn (yeah - there's another move on my horizon).
But I love this place. More than I do any other I have been. It's the first place where I have felt an attachment and obligation to my community, a connection with my neighbors. It's the first place that has made me wish I had money to invest - in the little shops and restaurants, in housing and parks. I - quite simply - believe in Brooklyn so much more than I do in that other island across the river.
So the whole idea of community investing is actually my new favorite thing: it just makes more sense to me to SEE where my money is going... I mean - why send my money to some big banking HQ to let THEM decide whether or not my neighbor gets a mortgage? Wouldn't it be so much more rewarding to feel part of that home or business purchase?
Well, I don't have any money to invest right now. But when I do, I am going to try to invest ALL of it locally - in things I believe in, in places I can touch and see.
-Heather... off to wander Brooklyn, listening to "Snow (Hey Oh)"...
PHOTO ALBUMS
