Q. Who are we?
Answer. We are multiple Sponsor entities; We are AND Direct, LLC, a 10-year old business development company that specializes in business planning, marketing and financing. We are also NLEH, Inc. a non-profit company who is concerned with community and economic development. Both Sponsors are certified Community Development Entities (by the Treasury Department of the United States).
Q. How can a Credit Union make a difference...aren't there already Credit unions across the US?
Answer. There are Credit Unions across the US, but they are mostly savings, home and educational loan suppliers. These activities are fine, but they don’t address the issue of entrepreneurship and small businesses, which is the main way new jobs are created in the US (80%). The Credit Union we’re proposing, will be missioned to provide business loans to start and expand small businesses in low income communities and underserved areas.
Q. What are the 8 Sectors?
Answer. The 8 Sectors represent the fundamental parts of an infrastructure, that any economy needs to be self-sustaining. We’ve identified the following; Housing, Education, Energy, Communications, Transportation, Banking, Food, Healthcare and Manufacturing. I know you’re thinking; “Hey, that's 9 sectors!” Thats because the Education sector is embedded within all the other sectors, so it's not really a separate sector in and of itself.
Q. What is a cooperative, what’s it’s purpose and how can it help?
Answer. A cooperative is “a farm, business, or other organization that is owned and run jointly by its members, who share the profits or benefits.” So just in the definition, you can see how co-ops are completely opposite of a normal corporation you may have worked for or even invested in in the past. A cooperative is RUN and OWNED by the workers or consumers as MEMBERS. This means that all products and services are sold AT COST to its owners. A cooperative also has direct democratic governance, which means all members vote on issues affecting the operation, spending and what to do with any profits. Finally, a cooperative creates “economies of scale” which is a fancy way of saying “it creates power and discount through larger numbers.” More buyers equal more buying power, which means lower costs. A cooperative helps in many ways; 1. lowers costs, 2. increases wealth, 3. empowers producers and consumers and 4. creates a mutuality or sense of community among its members because all benefit equally.
Q. What are the functions of these 8 sector cooperatives?
Answer. As described before, a cooperative creates economies of scale that reduce overall costs for producers and thus reduces end prices to consumers. But another and equally important function of each of these cooperatives respectively and collectively, is to be repositories of knowledge. Each cooperative will reinvest in education and training to improve the quality of work, products and services and the lives of the membership through learning and growing professionally and personally. The sum total of this collective knowledgebase will be available free to members and at low or no cost to the broader community and world. The distribution of this knowledge can be in the form of individual adult learning classes, k-12 grade schools (curricula) and formulated into accredited 4-year and post-graduate college. Any intellectual property created will be freely available to the public.for no or low fee.
Q. What are the member benefits?
Answer. Members (fully participating), get all products and services at cost and receive patronage refunds (dividends/profit sharing) when/if the cooperative turns a profit. All educational material and access is free. All of which result in individual wealth building and community development.
Q. What are Investor benefits?
Answer. A RETURN! More than that though...a debt investment is convertible into “subordinated equity,” which is a fancy way of saying; your initial debt investment is paid regularly and can be converted into a fully participating membership share. All this means you can continue to support and benefit from your initial investment for years to come!
Q. How to contact us?
Answer. Our non-profit Sponsor is the fiscal agent for monetary donations. To make a donation click HERE. For investments (minimum $1,000), please read the plan and portfolio description HERE.
Or contact Arlin J. Wallace at (330) 576-5425 or email him at anddirectllc@gmail.com (with "Investments" in the subject box).
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