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Two IN.Y. TimesI blogs tout co-ops NCUF link
NEW YORK (8/18/11)--One New York Times blog this week touted the benefits of co-ops, while another linked to the National Credit Union Foundation’s REAL Solutions Impact Center, featuring information about non-prime auto loans. Expanding the cooperative business model could mitigate future economic crises and reshape the U.S. economy to make it stronger, said a Tuesday post by Wilhelmina A. Leigh, an economist and senior research associate at the Joint Center for Political and Economic Studies, in “A Chance to Reshape the Economy.” “Cooperatives operate in most sectors of the economy and offer services as diverse as producing and delivering energy and providing health care service to the elderly,” Leigh wrote. “In particular, cooperatively owned financial institutions, like credit unions, fared better during the subprime market collapse than their brethren institutions that were not cooperatively owned. “Recent estimates suggest that more than 100 million people are members of 47,000 cooperatives in the U.S,” she continued. “Expanding the ‘cooperative’ economy could buffer the nations against future crises.” Also, Lisa Margonelli, in a Tuesday post titled “Making Low-Interest Auto Loans Work,” said: “The National Credit Union Foundation lists a variety of credit union programs that reach out to borrowers with poor credit on car loans. Analyst Bill Myers found that lending autos to people with poor credit can be profitable for credit unions, but they need to help clients select good cars, work more closely with them to ensure repayment and provide things like mechanical breakdown insurance …” She provided a link to REAL Solutions information about non-prime auto loans. See the links to the blog posts and the REAL Solutions link.
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