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

[Shiri Shalmy]

Thanks Herta

I can make Friday 29 Sept at 6pm and have put it in my diary.
Will wait for Tony to confirm.

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 Mon, 18 Sept 2023 at 13:18, Herta Gatter <herta.g at ldn.cash> wrote:

> Hi all!
>
> Sorry for the late reply, we were just trying to find a date that works
> for both the Outreach and Finance Circles.
> If it’s till good, 6-7pm on the 29th of September would be great.
>
> Address is: House 11, Sanford Housing Co-op, SE14 6NB
>
> Looking forwards to meeting you
>
> Herta Gatter
>
> Outreach and Engagement Circle
> *Community Assets for Society and Housing*
> ldn.cash
> @ldncash
>
>
>
>
> On 12 Sep 2023, at 23:55, Shiri Shalmy <shiri.shalmy at gmail.com> wrote:
>
> 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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>> Cash-outreach-engagement-circle at email-lists.org
>>
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>>
>>
>>
>
>
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