We are in the process of collecting data in order to make financial projections. If you represent a worker cooperative or are an individual interested in joining the credit union, please help us by filling out one of the surveys below. Responses will remain confidential. Surveys can be emailed to Mike Leung at participatory.credit.union@gmail.com.

Worker Coops

General Info

Worker Cooperative/Collective Name:

Primary business activity:

Legal Structure:

Address:

Year started:

Number of current members:

Number of trial members:

Contact person:

Credit Union Mission

Please comment on the following aspects of the credit unions proposed mission of maximizing worker cooperative jobs. How does your co-op view each activity? (Too restrictive or broad? Level of support? etc.)

1) Business lending exclusively for worker cooperatives.

2) Support of worker cooperative technical assistance and development activities.

3) Support of education about worker cooperatives.

4) Providing consumer financial services to individual members.

Financial Info

Cost of Member Buy-In:

Hourly wages (average, max, min):

Annual Revenue:

Annual Expenses:

Total annual wages:

Total annual patronage:

Percent patronage retained in collective reserve account:

Percent of member patronage deferred:

Duration of member patronage retention:

Average Internal Capital Account:

Cash and cash equivalents:

Collective reserve account:

Total Assets:

Current Liabilities:

Total Liabilities:

Book Value (Equity):

Credit Union Services

Would your co-op be interested in using the credit union’s business services?

What amount would your co-op consider depositing at the credit union?

What business services would your co-op like to see the credit union offer? (Business checking, savings, certificate of deposit, cash operations, loans, lines of credit, business credit cards, credit card payment processing)

How important is the physical location of the credit union to the co-op?

Would your co-op be interested in becoming part of the credit union’s common bond allowing your co-op’s members to join the credit union?

Roughly how many of your members would be interested in joining the credit union?

What banks or credit unions do you currently do business with?

Past Financial Needs

Please provide a brief history of the financial needs of your cooperative including the sources of financing and the terms of the agreements.

How do you rate the experience with the financial institutions you have dealt with in the past? Poor, Good, Very Good, Excellent (and why?)

Current and Future Needs

What are your current capital needs? How much and what for?

How much have you been able to secure and from what sources?

What are the terms of the financing you have been able to secure so far? How did you secure these loans? Co-op assets, personal guarantees?

How would you rank your experience with the financial institutions you currently work with? Poor, Good, Very Good, Excellent (and why?)

What are your anticipated borrowing needs in next 5 and 10 years?

Individuals

If you are an individual who is interested in become a member of the Worker Cooperative Credit Union please read the following and fill out the survey below.

The National Credit Union Administration (NCUA) requires 3000 people to pledge to become members of a new credit union as part of the chartering process. The NCUA also insures savings up to $250,000 through the National Credit Union Share Insurance Fund (analogous to the FDIC). While the intent is for this to eventually be a full service credit union with standard banking services, many new credit unions initially offer limited services (only savings accounts and personal loans). If you are interested in pledging to become a member, please fill out this form and email it to Mike Leung at participatory.credit.union@gmail.com. Pledges are non-binding. All responses will remain confidential.

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Are you a member of a worker cooperative, the US Federation of Worker Cooperatives (USFWC), the Network of Bay Area Worker Cooperatives (NoBAWC), or the North American Students of Cooperation (NASCO)? If so, which one?

Would you be interested in joining a newly chartered credit union serving worker cooperatives and their members, potentially offering savings accounts, personal loans, and other limited services in the beginning?

Which of the following would you use the following for banking services. Branches? Phone? ATMs? Online?

Would you be interested in using a credit union whose services were primarily online?

What future services (checking, CDs, bill pay, wire transfers, IRA, etc.) would you like the credit union to offer?

Would you be willing to pledge an initial deposit and if so, how much would you be willing to deposit?

Would you be interested in making regular deposits in the credit union, and if so how much would you deposit monthly?

Would you be interested in borrowing money from the proposed credit union and if so how much would you borrow?

Name:

Address:

Phone:

Email:

Are you 18 or older?

Are you a US Citizen or Permanent Resident?