Nusenda Credit Union, a credit union based in New Mexico, is partnering with W.K. Kellogg Foundation, the Albuquerque Community Foundation; the McCune Charitable Foundation; and local, community-based organizations through City Alive to create an alternative financial system that supports marginalized and underrepresented local communities.
The alternative financial system, called Co-op Capital, is a community-based microlending program that transforms the traditional lending model that provides loans through member organizations.
In the Stanford Social Innovation Review, the Co-op Capital microlending program helps to provide underserved communities the access to the capital they need.
The microlending program also helps build creditworthiness, making "equitable, culturally adept lending possible by bringing community organizations directly into the process." Read the Entire Article
A customized collection of grant news from foundations and the federal government from around the Web.
Leilah Janah is a social entrepreneur popularly known as the CEO of Samasource, a nonprofit organization that works to bring enterprise data services which focus on helping disadvantaged workers. Samasource also makes it possible to change the lives of its workers and their families by helping them find dignified, sustainable work online.