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Seven Principles Blog
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In 1844, a small group of weavers from Rochdale, England created the blueprint for how their newly-formed cooperative would operate and serve the local community. These values, known as the Seven Cooperative Principles, serve as the operating guidebook for credit unions and cooperatives throughout the world. This blog was created to honor that legacy and to showcase the everyday efforts of credit unions in the Carolinas that embody the cooperative mission and purpose.

 

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Self-Help credit building products featured in National Journal

Posted By Jeff Hardin, Monday, February 23, 2015

Principle Three:Member economic participation. The more members use the credit union, the more both the members and the cooperative benefit.

Principle Five: Education, training, and information. Credit unions provide financial education to their members as well as the communities they serve.

National Journal Reporter Nancy Cook recently spotlighted Self-Help Credit Union's Credit Builder and Wealth Builder loan products. The article details how a Self-Help member, John Corbin, was able to rid himself of burdensome credit card debt and eventually qualify for a mortgage from the credit union.

Corbin today owns a home in Canton, thanks to his commitment to paying off his credit card debt, and Self-Help, which paved the way for Corbin to build savings along the way. You may read this story by clicking here.

 

Tags:  Principle Five  Principle Three  Self-Help Credit Union 

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Principle 7: Self-Help Credit Union enters lending partnership for women entrepreneurs

Posted By Jeff Hardin, Monday, March 31, 2014
Updated: Monday, March 31, 2014

Principle Seven: Concern for community. Since credit unions are locally owned financial institutions, they are committed to investing in the community.

Self-Help Credit Union announced a partnership with Bank of America and the Tory Burch Foundation to provide loans to female entrepreneurs in North Carolina and three South Carolina counties. The initiative is part of a two-year, $10 million lending effort in selected regions & cities across the country.

Called Elizabeth Street Capital, the funding initiative will provide loans of $1,000 and up to women-owned businesses. Loan recipients will also benefit from mentoring and networking opportunities. Self-Help will administer the loans. 

According to a page posted on the Self-Help web site, businesses all 100 counties in North Carolina, as well as Chester, Lancaster and York Counties in South Carolina are eligible to apply. The Charlotte Observer explored the partnership between Bank of America, the Foundation and the credit union, in its Monday March 31 edition.    



Tags:  Principle Seven  Self-Help Credit Union 

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Principle 6: Frank Stasio on Durham's "impossible" co-op

Posted By Jeff Hardin, Tuesday, February 18, 2014
Updated: Tuesday, February 18, 2014

Principle Six: Cooperation among cooperatives. Credit unions work together to improve services to members and build sustainable communities.  

 
Frank Stasio's program, The State of Things,
may be heard on WUNC-FM weekdays at Noon.

Frank Stasio, the host of WUNC-FM's State of Things, penned a guest column in the Durham Herald-Sun celebrating the planned Durham Central Market (DCM). The Durham Central Market, a cooperative grocery store to be located near the downtown area of the Bull City, is being built thanks in part to a loan provided by Self-Help Credit Union.

Stasio's column, published February 15, shares the long track record of Durham doing "impossible" things. Included in the mix is the unlikely election of a Jewish mayor in 1951, as well as an entertaining account about a beaver dam that detoured a planned interstate highway.

"So when people said that it was impossible to get enough community financing to build a co-op grocery store in this city, I knew that the Durham Central Market would be open very soon," Stasio wrote. "Once again, Durham is on the verge of doing the impossible. People in this city are buying memberships in a store that that right now is only a hill of dirt at Kent Corner. And they’re making larger financial investments in the form of preferred shares, to buy a piece of an impossible dream -- a locally owned natural foods store that will encourage sustainable farming, responsible development, community engagement and job growth."

You may read Stasio's column Durham, where people do impossible things, by clicking here.

    

Tags:  Principle Six  Self-Help Credit Union 

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