How to write a member loan

We've received some comments that the process for making a member loan is a little complicated. We tried to make it as simple as possible, but to protect the co-op and the lenders we have to follow the legal advice that we were given by an attorney who specializes in member loan programs for co-ops.

It's not really very hard. To make it easy we added a form on the co-op's website to start things off. Just fill in the
Member Info Request Form and one of us will contact you to find out how much you would like to loan. We'll help you figure out the interest rate and the repayment date.

We need to make sure that you have a copy of the info packet and can mail you one if you don't already have it.

Finally, I have to write up some contracts. They are signed be the co-op treasurer (that's me) as well as the board secretary (that's Katrina Bromann) and send them on to you. You sign the contract where indicated and send it back in an enclosed envelope. I'll make a copy for our records and send you the originals back to you.

You can send your check in that envelope or any time before the 1st of April.

That's all there is to it.

My phone number is
384-2033