An Earth-Friendly Credit Union Posted by AVCU on 12:13 PM

You know there are credit union FOMs based on employment, religious belief, neighborhood and the like. But you probably haven't come across an FOM comprised of shared belief in sustainable livelihoods rooted in permaculture. What's permaculture? It's an approach to ecology that takes an integrated, system-based approach to the use and management of natural resources.


Permaculture Credit Union, in Santa Fe, New Mexico, incorporates ecological ethics into its services by efforts like . . . 

• mortgage loans for eco-friendly homes using recycled materials
• second mortgages for solar heating, photovoltaic energy systems, weatherization, rainwater collextion, and organic farming
• discounts on car loans for fuel efficient vehicles
• a micro-loan fund for small-scale farmers

According to the Sept/Oct issue of the Cooperative Business Journal, PCU's mortgage loans wouldn't usually pass muster with traditional lenders due to unconventional approaches to building design and construction. Money for the small-scale farmer loans ($250 - $3,000) comes from donations to PCU partners the Permaculture Guild and Santa Fe Farmers Market Institute. PCU administers the loans and splits the 6% interest with its partners. 
Permaculture Credit Union began as a volunteer operation in 2000 and today claims 1,000 members and a 200 loan portfolio of about $8 million. Read more about PCU in the current issue of Cooperative Business Journal at the National Cooperative Business Association.