[Cash-outreach-engagement-circle] MAJ and CASH

[Shiri Shalmy]

Thanks Tony and hello Herta

I have also not been to Sanford yet so I am very excited to join the
meeting!

Of the dates and times Tony suggested I can make the following:

Wednesday 27th Sept – 12 noon to 7pm

Friday 29th from 12 noon to 7pm

Saturday 14th Oct – any time

Sunday 15th Oct – any time

Hope any of those work for you, Herta.

Best,
shiri

Shiri Shalmy

07929 252724
@ShiriShalmy <https://twitter.com/ShiriShalmy>

Cooperation Town <https://www.cooperation.town> // Antiuniversity Now
<http://www.antiuniversity.org/> // Curatorial work
<http://www.cargocollective.com/shirishalmy>
I am a member of the Bakers, Food and Allied Workers Union
<https://www.bfawu.org>, of London Renters Union
<https://londonrentersunion.org> and of the London Capital Credit Union
<https://credit-union.coop>. Join a union today.




On Tue, 12 Sept 2023 at 09:46, Tony Wood <woodywood2 at blueyonder.co.uk>
wrote:

> Hi Herta,
>
>
>
> Sorry for the slow response but Jane from MAJ was away then we waited for
> our next MAJ meeting to discuss.
>
>
>
> It will be me and Shiri from MAJ coming down to meet you. I’ve never
> actually seen Sanford, so would be lovely to come to you. I know Shiri is
> involved in Anti University (https://2023.antiuniversity.org/) which runs
> from 30th September to 6th October, so I’ve put dates I can make outside
> those dates.
>
>
>
> Can I leave you and Shiri to say which dates/times you two can make and
> then we can set a time
>
>
>
> I can make
>
> Friday 22nd after 6pm
>
> Sunday 24th Sept – any time
>
> Wednesday 27th Sept – 12 noon to 10pm
>
> Friday 29th from 12 noon to 10pm
>
> Sunday 8th Oct – 11am to 3pm
>
> Saturday 14th Oct – and time
>
> Sunday 15th Oct – any time
>
>
>
> Shiri, I can also make some dates during Anti University dates, but just
> don’t know how manic you will be during it
>
>
>
> Tony
>
>
>
> *From:* Herta Gatter [mailto:herta.g at ldn.cash]
> *Sent:* 15 August 2023 10:46
> *To:* woodywood2 at blueyonder.co.uk
> *Cc:* Outreach and Engagement <
> cash-outreach-engagement-circle at email-lists.org>;
> francine.holdgate at hotmail.co.uk; janelaporte04 at gmail.com
> *Subject:* Re: [Cash-outreach-engagement-circle] MAJ and CASH
>
>
>
> Hi Tony,
>
>
>
> Thanks for getting in touch. That sounds like a super interesting idea
> we’d love to explore. I am also the Outreach officer at Sanford at the
> moment and involved in the Loanstock panel too - mentioned to some fellow
> members they also thought it was a good idea.
>
>
>
> Shall we have a meeting in September to discuss? Perhaps you could suggest
> a few times for a meeting in the second half of the September. I am happy
> to host at Sanford, or at The Field - would be nice to meet you in person!
>
>
>
> All the best,
>
>
>
> Herta Gatter
>
>
>
> Outreach and Engagement Circle
>
> *Community Assets for Society and Housing*
> ldn.cash
>
> @ldncash
>
>
>
>
>
>
>
> On 9 Aug 2023, at 11:34, Abigail Hammond | CASH via
> Cash-outreach-engagement-circle <
> cash-outreach-engagement-circle at email-lists.org> wrote:
>
>
>
>
>
> -------- Original Message --------
> Subject: MAJ and CASH
> Date: Tuesday, August 08, 2023 17:05 BST
> From: "Tony Wood" <woodywood2 at blueyonder.co.uk>
> To: "'Abigail Hammond | CASH'" <abigail.h at ldn.cash>, <
> francine.holdgate at hotmail.co.uk>
> CC: <cash-outreach-engaement-circle at email-lists.org>, "Jane Laporte" <
> janelaporte04 at gmail.com>
>
>
>
> Hi all,
>
>
>
> This is Tony from Mary Ann Johnson Housing Co-op (MAJ) in Tottenham.
>
>
>
> Some of us in MAJ read your document X and we had an idea to put to you,
> although it might not be something you want to do, but happy to chat if the
> idea could fit into what you are looking at.
>
>
>
> In the past MAJ has tried to get the very large co-ops (mainly in London)
> to lend to smaller co-ops (especially those just starting out), but we
> didn’t really have much luck. To be fair we only mentioned it at one London
> Federation of Housing Co-op meetings and it was some time ago. We have
> stayed in contact with the London Fed and try to get to the occasional
> meetings and have kept our membership up with them. We would really like to
> see the very large co-ops start lending to smaller co-ops but we think they
> are scarred they could lose their money (I think some in Sanford might have
> had the same worries before they started lending, but hopefully they can
> see MAJ and I think the Drive are both fairly secure loans).
>
>
>
> So, we would like to chat with people from CASH (if this helps you) that
> we put forward that one of the big co-ops actually lends a sizeable amount
> to MAJ. MAJ would then use this money to pay off one of our mortgages. This
> would benefit MAJ as we would rather owe a co-op than a bank. MAJ doesn’t
> actually need to do this and it will be a lot of work convincing a larger
> co-op to lend (ideally we would want £125,000 but maybe we accept a lot
> less and also it could be a group of co-ops). The amount doesn’t actually
> matter. The idea is getting the bigger co-ops to start the discussion. And
> once they lend to a safe co-op like MAJ (we have a lot of assets (homes)
> that the loans could be secured against and have paid off quite a bit of
> mortgages and our house values have risen quite a bit) hopefully we have
> started the discussion and they will be more open to lending to newer
> co-ops in London, or at least be open to discussing it.
>
>
>
> Very very basically it could work something like this. Say a large co-op
> presently gets (say) 2% interest on their capital in the bank. Say MAJ pays
> 8% on its mortgage. MAJ could agree to give a co-op (say) 4%.
>
>
>
> Why should CASH get involved? Well apart from getting big co-ops to lend
> to smaller ones in London (and therefore helping new co-ops with finance)
> we are also thinking MAJ could also pay (say) 1 or 2% to CASH. So MAJ pay
> 6% - large coop gets 4% and CASH gets 1 or 2%. Obviously there would need
> to be a water tight contract (and this could be used for future loan deal)
> and the rates would need to be tied to bank rates as if loans went down MAJ
> wouldn’t want to be worse of that with our present lender.
>
>
>
> Also, and a BIG also, MAJ hasn’t discussed figures and amounts at all. All
> the figures I’m using, I’m using as just examples. MAJ said I can chat  to
> CASH and can put some work into this, but we haven’t chatted about figures,
> percentages, or how much we could/would borrow from a large co-op. To keep
> this open I’ve also copied in Jane from MAJ, in case she feels I’m over
> stepping the remit I’ve been given by MAJ.
>
>
>
> Anyway, have a read. Digest all my ramblings. And let me know if its
> anything CASH might be interested in doing.
>
>
>
> Tony
>
>
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