Becoming a Saving Coop Member
A Saving Member puts their money into a Money Market Savings Program for themselves.
Of course, regularly saving money is its own reward for the Saving Member, but the purpose of the Saving is to build up money for a down payment and to show commitment to the Idea Project.
(Note: At any time a Savings Member can email a request to get their Money back. There will be a small fee and it will take at most 10 business days to get your Money.) (The legal steps have yet to be addressed.)
The purpose of being a Saving Member is to be an official Coop Member. If they can’t save money how can they pay a mortgage regularly? If they can’t save money, how will they be able to make a down payment?
A Saving Coop Member is someone who wants to be there, build there and live there. They want to come to the meetings; they want to work on the Idea Project.
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(Click to go to the PayPal Long Term Loan Page.) (The legal steps have yet to be addressed.)
Interesting Note: At the minimum $1000 total and regular contribution or payment of $100 a month or a total of $10,000(the amounts may be different); a Giving Member, Loaning Member or Saving Coop Member have earned two benefits.
The first benefit is to have the option to work as an assistant shift manager and then a shift manager on the Green Idea Project.
And the second benefit is that all contributed hours, working shifts on the Idea Project will be counted and credited to you! Those contributed hours can be valuable. Later, a % of any surplus hours can be traded in for even off site work!
For example, a Loaning Member could contribute 17 hours a week for four years. That would be 3400 hours with 8 weeks off. If after the Idea Project had completed construction, that Loaning Member could trade in all the 3400 hours and receive 1400 hours of work from willing Coop Members (as payment in full) to build a small Green lake house on a weekend!
Note: This is an example, the % may be different, but you get the point.