Bread and Roses Credit Union
Organization profile published 1978
Year Published: 1978
Resource Type: Organization
Cx Number: CX615
Connexions has published numerous abstracts on Bread and Roses Credit Union.
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This abstract was published in Connexions Digest in 1978:
Bread and Roses Credit Union Ltd. was incorporated on February 7, 1978. A board of five directors was elected at the first meeting on March 12, 1978. Membership in Bread and Roses is open to members of Toronto-based organizations working co-operatively for social change.
Bread and Roses offers its members financial savings arrangements distinctly different from those offered by Canada's chartered banks. Whereas banks lend their customers' savings without reference to their customers' wishes, in Bread and Roses, members exercise a collective responsibility for their credit union's lending policy.
Bread and Roses members are offered three accounts: the share account, the bread account - a deposit account offering a good rate of interest, and the roses account - a deposit account offering no interest. The interest earned by the Credit Union on funds in this account is designated for low-interest loans to non-profit cooperatives which are active in socially useful production and service. On Friday, June 16, the Bread and Roses Credit Union will have special hours of opening from 2:00 - 6:00 p.m. in order to receive monies that have been withdrawn from the major banks as part of a national protest against bank loans to South Africa.
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This abstract was published in Connexions Digest in 1983:
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.
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This abstract was published in Connexions Digest in 1988:
Bread and Roses Credit Union, a credit union working to support social change activities, is moving to the above address from its former Bathurst Street location on september 14, 1987.