How to get involved in community investing How to get involved in community investing Dorothy May Emerson March 17, 2015 UU World Magazine Spring 2006, published by the Unitarian Universalist Association Feature Living Our Faith, Social Justice
A wealth of information about community investing is available from www.communityinvest.org, a project of two not-for-profit organizations, Co-op America and the Social Investment Forum Foundation.
Here are approaches the organizations suggest:
- Invest directly in community development loan funds. These are comparable to bank-issued certificates of deposit but are not FDIC-insured. Nevertheless, the Social Investment Forum reports, no major community loan funds have lost any investment dollars. Investors choose a rate of return from zero to 3 percent on investments of one to three years and up to 4 percent on longer terms.
- Open checking or savings accounts in a community development bank or credit union. They operate much like traditional banks, but focus on providing capital to rebuild low-income communities.
- If you invest in mutual funds, you may want to look for funds that have a significant community development component.
- If you work with a financial advisor, you may want to invest in Calvert Community Investment Notes.
- Join the “1 Percent or More in Community Campaign,” whose goal is $15 billion in community investing for economic opportunities in disadvantaged areas. Joining requires moving at least 1 percent of your savings and investments into community investments.
Remember: UU congregations that invest in community development financial institutions may double their impact by applying to the UUA to match investments of $2,000 to $10,000.
- Community Investing Center. Locate investing opportunities and follow developments in community investing. (CommunityInvest.org)
- UUA Community Investing Matching Program. The Unitarian Universalist Association can double the impact of your congregation's investment. (UUA.org)
- 1% or More in Community Investing Campaign. Commit to move at least 1% of your managed assets into community investments. (CommunityInvest.org)