It's
Eleven O'clock. Where Is Your Money and What Is It
Doing?
That Is The Question. Everyone seems to need it.
Everyone uses it. Everyone wants to have more of it.
But, for those who care about the health of the
planet and seeks a sustainable future, the important
question is, "Is your money working for or
against the future that you envision?"
A Possible Answer
The Permaculture Credit Union, the first to be
created in New Mexico in 30 years, is possibly the
first credit union to be founded upon the Earth Care
ethics of permaculture: respect for natural systems,
respect for people, and no waste. In banking, this
means the reinvestment and recycling of surplus back
into the community via loans that encourage
environmentally conscious practices. Many people have
heard of permaculture in relation to farming,
gardening or landscaping techniques. But the ethics
of permaculture can be applied to all systems that
sustain themselves, including building a house,
operating a business, or managing and investing
financial resources, as well as growing a garden.
The Vision and The Mission
What the volunteers and staff of the PCU have been
working to create is a financial service model that
operates in parallel with the values of the members
and strives to support their vision of life in
partnership with nature and the principles that
support and nourish living systems. The task is both
simple and complex: to steward the community
resources that have been placed in their care, to
apply and invest these resources in people and
projects that enrich the communities in which we all
dwell, to educate our community about these endeavors
and ethical principles, and to create a model that
will transform the nature of financial institutions
and transactions in a way that supports life. The
mission and purpose of this new enterprise is to pool
the financial resources of people who subscribe to
the ethical principles of permaculture and to provide
a financial vehicle that will allow these resources
to be put to work creating a sound, sustainable,
environmentally responsible future.
The founders of this credit union believe they have
targeted a market that is severely underserved by
existing financial institutions, namely, those people
who are committed to a cleaner environment, healthful
food and water, sustainable energy use, and a more
conscious lifestyle. The Permaculture Credit Union
creates the opportunity for its members to control
the use of their money in the community and
contribute to the revitalization of local well being
while promoting environmentally sound, earth-friendly
technologies and practices.
A Place And Respect For People Who Care
The PCU office is in Santa Fe, NM. It's not fancy,
just the basics. Don't expect the ostentatious decor
of a fancy national mega-bank. What you will find are
friendly and helpful folks who are assisting members
to open accounts and take the first steps toward
having some control over the way their money is
invested and used for the things they believe in. You
can expect that they will learn to recognize your
name and voice on the phone.
How Different Can It Be?
The Permaculture Credit Union provides an important
precedent in the financial world, namely the
financial tools and capital dedicated to supporting
environmentally sound practices, technologies and
businesses.
. There are private individuals who would seek loans
for ecologically friendly, solar electric, hybrid,
fuel-efficient cars if banks would only lend for such
expenditures.
. There are homebuyers who would seek mortgage
financing for non-toxic, innovative, environmentally
sustainable houses if only lenders were willing to
support these emerging trends.
. There are green builders, organic growers,
innovative entrepreneurs in solar and wind energy who
are undercapitalized and need loans in order to grow,
prosper, and promote these ideas and enterprises.
Generally traditional financial institutions are
unwilling to lend money to projects and enterprises
that fall outside the normal, "
business-as-usual" parameters of their current
loan portfolios. These institutions are partially
responsible for the slow pace of innovation and
broadscale acceptance of permaculture, including
"Green Building," and ecologically sound
farming practices.
The PCU is addressing this problem by making loan
monies available in these areas. Beyond providing
financial services at fair rates, this cooperative
venture gives members the satisfaction of knowing
their money is being used by others with whom they
share a common bond and in activities and projects
that are consistent with and supportive of the ethics
of permaculture.
Who Are The Members?
As of this writing, the PCU has approximately 220
members and over $1 million in total deposits. This
result is consistent with or exceeds the goals set in
the original business plan last fall. As a result of
reaching this landmark, the PCU sent out a survey to
the membership to determine the appropriate products
to offer as an expansion of the loan program. In
general, the written responses in the survey indicate
that members are social progressives and are
environmentally conscious. When asked how they would
like their money directed, why they joined the PCU,
and how they would describe themselves, common words
and phrases were: sustainable, restoration, ethical,
ecological, environmental, earth-friendly, green,
gardens, self-sufficient, organic, alternative
energy, and values. The members have or want to
acquire land. They want to know where their money is
going specifically. They have many diverse ideas for
spreading the word about the PCU and enrolling new
members.
It is clear from the survey responses that what
members want is an institution in which to place
their savings that utilizes their money in ways that
are aligned with their values, that is a safe
investment that pays a reasonable rate of return, and
is user-friendly.
What's Happening Now?
In addition to offering savings accounts,
share-secured and signature loans, and a range of
competitively-priced CDs, the PCU is initiating an
expanded loan program that offers discounted interest
rates for fuel-efficient cars and "green"
home improvements, providing personal loans to reduce
the credit-card debt of members, and will soon be
developing expanded services that will provide more
immediate and convenient access to members' financial
resources. In addition, they have recently hired a
full-time CEO with experience in lending and
operations. This will move the PCU forward in their
ability to manage growth and allow them to service
the growing demand for an ethical and ecological
financial institution.
How Can People Join?
Membership in this credit union is for those persons
who have completed a Permaculture
Institute-recognized permaculture design course, are
members of an affiliated regional permaculture
institute, and/or who subscribe to the ethics of
permaculture.
For current information on becoming a member contact:
The Permaculture Credit Union 4250 Cerrillos Road
Santa Fe, NM 87505 505-954-3479 Or go to www.pcuonline.org.
Vint Lawrence
is Chairman of the Permaculture Credit Union, as well
as a Permaculture Designer and Teacher. He lives at
his Permaculture Design Ranch in New Mexico.
