The Ashfield-based nonprofit Common Good is launching investment clubs as a way for people throughout the Pioneer Valley to invest in local projects, socially responsible businesses and entrepreneurs.
Common Good Operations Director Ivan Ussach, of Warwick, said there is a wealth of innovative local projects, with people working for a better world, for thriving communities and for the well-being of their neighbors.
“Community-spirited investors often don’t hear about opportunities to support such initiatives, and vetting or deciding among the choices they do hear about can be daunting,” Ussach said.
That’s where the investment clubs come in.
“We don’t know of any other locally focused democratic investment opportunities for people of average means, so we created one,” said Common Good Executive Director William Spademan.
Investment club members will each invest $100 or more, get together quarterly (online or in person) and make investment decisions. Investments are selected based on their value to the greater good, aiming for a reliable 3 to 5 percent return, Ussach said.
As a nonprofit, non-bank financial institution, Common Good develops technology for collaboration and community economics “to shift power away from big business and big government back to communities, where we care more and see what’s needed,” Spademan said.
Common Good already offers a payment system with no fees to individuals or businesses, recurring donations to local nonprofits, a neighbor-to-neighbor “Offers & Needs” bulletin board and a community loan fund guided democratically by members, Ussach said.
“All of the nonprofit’s services are offered at no charge,” Ussach said.
The investment clubs can help fund local projects — especially ones that have difficulty getting other funding — such as the Compost Cooperative and Northeast Biodiesel, both of Greenfield, which were early recipients of funding from Common Good.
A public information session with an opportunity for people to ask questions about Common Good’s investment clubs will be held Wednesday, Dec. 9, at 7 p.m. For more information or to attend the information session, call 413-628-1723 or visit bit.ly/2JvOpJK.
Reach Anita Fritz at 413-772-9591 or afritz@recorder.com.