January
2020
14
Next City — One evening last September, at Brooklyn Cooperative Federal Credit Union’s main branch in Bed-Stuy, the credit union staff hosted a town hall to walk members through the credit union’s balance sheet — deposits, loans, other investments, capital reserves. CEO Samira Rajan emphasized the credit union’s key ratios, like its net worth ratio — capital reserves to total assets.
January
2020
4
New Economy Project applauds Governor Cuomo’s proposal to provide $25 million in new seed funding over five years for the New York State Community Development Financial Institutions Fund (NYS CDFI Fund). By supporting the state’s robust network of 80+ cooperative and community-controlled credit unions and loan funds, New York will take a critical first step […]
August
2019
12
Over the past two months, leaders and organizers from more than 20 NYC community groups came together to learn about pressing economic justice issues and strategies for change. Our five workshops explored topics ranging from the history of redlining in New York to envisioning an economy free from sexism and patriarchy. Feel like you missed out? Read on for a recap of our 2019 New Economy Workshop Series!
May
2019
16
Dozens of community land trust (CLT) organizers, supporters, and community members rallied this morning at City Hall, urging the NYC Council to support a new funding initiative to incubate and expand CLTs in all five NYC boroughs. The proposed initiative, championed by Council Members Donovan Richards and Carlina Rivera, comes at a critical moment, as more than a dozen CLTs are taking root in the South and Northwest Bronx, East Harlem, Brownsville, Jackson Heights, and beyond, to curb displacement and advance community-led development.
February
2019
15
A diverse group of 65 organizations from throughout New York State request a $25 million appropriation to fund the New York State Community Development Financial Institution Fund (NYS CDFI Fund).
January
2019
22
When the last remaining bank branch on the Lower East Side closed its doors in 1986, local activists took matters into their own hands and organized to establish a non-profit financial cooperative, the Lower East Side People’s Federal Credit Union.
November
2018
28
City Limits, Op-ed by Deyanira Del Rio and Andy Morrison — Unless you’ve been stuck under a rock – or perhaps on the 7 train – you’ve heard the news: the winner of the Amazon HQ2 sweepstakes is…Amazon. Two hundred and thirty-eight cities competed. Twenty finalists raced to the finish line. Two – New York City and Washington, D.C. – were selected to split Amazon’s new so-called second headquarters. But in the end, Amazon took home the big prize: $4.6 billion of public money.
September
2018
4
On August 3, 2018, nearly two dozen people from NYC community organizing and cooperative development organizations packed into our conference room for an engaging lunch discussion with Álvaro Porro, Social Economy Commissioner for the City of Barcelona. Barcelona’s story presents a powerful model for New York City, and we were eager for this extended opportunity to hear about his work.
August
2018
3
New Economy Project was pleased to participate in New Economy Coalition’s CommonBound Conference, held this June in St. Louis, Missouri. CommonBound is a bi-annual gathering that brings together leaders from more than 200 groups across the US and Canada, working to build an economy grounded in shared values of democracy, justice, and ecological sustainability.
March
2018
23
Buffalo News — It’s a persistent problem in Buffalo and other cities: disproportionately fewer bank branches in lower-income neighborhoods, prompting some residents to turn to high-cost alternatives to obtain capital.