Resetting the Terms of Debt so Everybody Wins
On December 15th, join Salish Sea Cooperative Finance—a Washington State financial cooperative—for a discussion of our newly launched Guide to Cooperative Community Lending.
Over the past 8 years, Salish Sea Cooperative Finance has been building a unique, place-based cooperative lending model to help tackle the student debt crisis. With the support of the New Economy Coalition, we have created a “how to” guide meant to empower any community to come together, pool resources, and address the student debt crisis or other shared societal challenges. Come learn about this new approachable manual for how to use local, communal finance to build the sustainable, equitable, resilient communities that we need.
About Salish Sea Cooperative Finance
Salish Sea Cooperative Finance was founded in 2014 to address the student debt crisis, recognizing it as a major gatekeeper to social change. Millions of young adults’ energy and liquid capital is sunk into repaying high-interest loans, and they’re pushed toward profit-seeking and away from public-benefit professions and community engagement. Biden’s student debt forgiveness of $10,000 is a start—but so much more needs to happen. And we can’t wait for federal support that may or may not ever come.
Salish Sea Cooperative Finance refinances high interest student loans with capital from its members, freeing borrowers from exploitative terms and lending relationships. At the same time, it gives members with capital the chance to make a values-aligned investment in their community. Salish Sea Cooperative Finance provides a community-scale solution to the student debt crisis, as well as a model that can extend beyond student debt to climate transition, healthcare, and racial equity. www.salishseafinance.coop