Another slant on social lending.  David Reiling at University Bank of Minnesota has created an account option that permits depositors to designate their account balances toward funding of community and social housing locally. Hat tip to David for this one.  Here’s how it works: Open any depository account at University Bank and designate your account balances to the URF. It’s as simple as checking a box on our account agreement form. Your account balances in the URF will be used to support: * affordable housing * small businesses * non-profit organizations * community services Source: Community Impact – Urban Revitalization Fund … Continue reading Community Impact – Urban Revitalization Fund (URF) – University Bank

I have talked and thought a fair bit about social networks for banks, and social lending in particular.  Here is a fabulous story about Muhammad Yunus, who established Grameen Bank to help underprivileged, and non-banked people in Bangladesh.  It all began when in 1976, he lent $27 from his own pocket to 42 stool makers in a poor village.  The results were astounding, and for a small amount (to him) it was an enormous leg up (pardon the pun) to them.  Thanks to Ryan for the tip on the book, Banker to the Poor, that tells the story. Yunus’s theories … Continue reading Banker to the Poor: Micro-Lending and the Battle Against World Poverty