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Credit Unions

Full-service financial institutions that are owned cooperatively by their members.

Co-ops Unite to Support Worker-Ownership in Home Care

by Jim Johnson, GEO Collective

Past issues of GEO have reported on the emergence of a particular type of worker cooperative, the home care cooperative. In the 1980s, the federal government followed the lead of state governments like Wisconsin and acknowledged that elderly and disabled people who need help in day-to-day living are best served by in-home assistance. Medicare and Medicaid funding that would have otherwise been used only for nursing homes would now be applicable to home care services. With "the gray tsunami" of aging baby boomers looming, demand is only going to increase for the next few decades.

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A Participatory Credit Union for Worker Cooperatives

By Ajowa Nzinga Ifateyo

Credit: www.fao.orgIn order to compete in a corporations-dominated economy, worker cooperatives need millions of dollars to finance large-scale businesses in manufacturing and production.

"That's the hole in the cooperative movement which there needs to be some infrastructure for," said Michael Leung, of Somerville, MA, who last year earned a doctorate in Physics from Princeton University. "I don't personally see a way where co-ops have the mechanism for large-scale growth."

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