Bread and Roses Credit Union
Organization profile published 1983
Year Published: 1983
Resource Type: Organization
Cx Number: CX2797
Abstract: BREAD AND ROSES is a credit union whose primary purpose is the promotion of social change. Formed in 1978,it has grown rapidly, developing a substantial loan pool for individuals and groups that are promoting a more just and equitable society. It functions much like any other credit union; it is a "co-operative bank", owned and democratically controlled by its members - the people who deposit money. And just like in any bank or credit union, all deposits are insured against loss.
Both individuals and organizational members of BREAD AND ROSES are eligible for loand from the credit union, at an interest rate below market levels. The interest rates and loan approvals are set by committees composed of members of the credit union.Money is loaned for personal and for organizational projects- especially those whose structure and purpose aemphasize social justice and/ or the betterment of the community.When a loan application is considered, the purpose of the proposed project is just as important as its financial soundness. BREAD AND ROSES will not lend money for any projects which are perceived to exploit human beings or the environment.