PermacultureCredit Union

For the first time in almost 30 years, a new credit union has opened its doors in New Mexico. On August 15th, after more than three years of volunteer labor, the Permaculture Credit Union, based in Santa Fe, NM, has begun accepting member deposits.

Many people have heard of permaculture in relation to farming, gardening or landscaping techniques.

But the ethics of permaculture -- care of the earth, care of people, and reinvesting the surplus for the benefit of the earth and its inhabitants -- can be applied to all systems that sustain themselves, including growing a garden, building a house, operating a business, or managing and investing financial resources.

Membership in this credit union will be limited to those persons who have completed a Permaculture Institute-recognized permaculture design course, are members of an affiliated regional Permaculture Institute, and/or who subscribe
to the ethics of permaculture.

Credit unions are cooperative nonprofit organizations. They are owned and controlled by their members, not by outside stockholders. Income above that which is allocated for operating expenses, is paid to members through dividends.

Members of the Permaculture Credit Union (PCU) will receive financial services at fair rates, and they will have the satisfaction of knowing that their money is being used in activities and projects consistent with the ethics of permaculture.

Nora Haskins, Acting Presi-dent/CEO of the PCU, says the ethics of permaculture and credit unions are similar. "A credit union is a cooperative venture for people who wish to pool their financial resources to promote a common mission and benefit from common financial interests," she says.

"At the Permaculture Credit Union, our common mission and financial interests are: respect for natural systems, respect for people, and no waste, which in financial terms means the reinvestment of surplus back into the community. We expect a very successful first year, which will enable us to expand our services."

While the Permaculture Credit Union will ultimately offer a full range of financial services, in the first year of operation, services will be limited to savings accounts, certificates of deposit, vehicle loans, and signature loans. Each account is insured up to $100,000 by the National Credit Union Administration.

For more information and to join, contact:

The Permaculture Credit Union