credit unions: Credit Unions to offer Microloans for poor in US
9 people support this idea
3 comments
Based on Grameen America and Nobel Peace Prize winner, Muhammad Yunus’ initiative in North Carolina, see: http://www.iht.com/articles/ap/2009/0…
Credit Unions across the US could offer microloans to start small businesses and offer accounts for the unbanked poor. With the financial crisis this is needed more than ever before and microloan banks are actaully doing well during the crisis.
posted about 1 year ago by vivigive for credit unions
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I love this idea, especially in connection with the idea for microfinance savings accounts. Conscious people in America who have a large savings account could have that money be used to make micro-finance loans to other Americans in need. This could be fundamental in increasing liquidity again and kick starting the economy.
posted by Loren (verified representative for dotherightthing.com) about 1 year ago
I agree. Our banking system has done all the wrong things. Now it’s time to do all the right things and this is agreat way to begin.
posted by annemccrady about 1 year ago
I completely disagree with this idea.
The whole concept of micro loans, was to give money to the poor entrepreneur, whom would then take that loan and use it as money for materials to make things to sell to other people. That would then turn profit and pay the loan back in a timely manner.
instead you insinuate giving money to our poor people; who would just go out and buy things that would have no purpose in making back the money. Thus it is not wise for any investor.
This is by far the worst idea i’ve heard.
I say we ship the poor people to other countries and have them live in the shoes of the “truly poor” and disheveled, and then they can see how lucky they really are for even the limited things they do have.
Then maybe while they are in other countries, they could qualify for a micro loan to be a productive part of their growing economy.
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posted by interesting 6 months ago