MONTPELIER, Vt.–Vermont State Employees Credit Union is seeking cooperative businesses in which to invest through a program it calls Co-op Capital.
“At VSECU, we believe that a strong cooperative economy is an essential element of comprehensive economic and community development,” VSECU said in a statement on its website announcing its program. “Co-op Capital at VSECU supports the development of cooperatives with long-term capital investments designed to help start new cooperative enterprises and grow established cooperative businesses.”
VSECU said it believes in investing in cooperatives because they are an important part of economic and community development strategy, cooperative businesses bring stability to the local market, locally owned cooperatives offer another form of local investment, and “concern for community is part of the cooperative DNA.”
Through direct investments in cooperatives, VSECU said its “Co-op Capital initiative aims to foster the growth of a sustainable, locally owned and controlled part of our economy. The initiative seeks to help create living-wage jobs, support a sustainable and fair food system, provide affordable housing, and develop democratic workplaces and community ownership.”
VSECU said its Co-op Capital investments typically take the form of preferred stock, with investments in a single cooperative currently limited to $145,000. The CU offers a Co-op Capital Toolkit on its website.