“In 1992, seeking to find greater financial resources for entrepreneurial efforts in these communities, Ecotrust initiated discussions with ShoreBank Corporation, the Chicago-based leader in community development banking. In 1995, the two partnered in founding ShoreBank Enterprise (now ShoreBank Enterprise Cascadia), a non-profit community development financial institution (CDFI), and in 1997 ShoreBank Pacific, the nation’s first environmental bank.”
http://en.wikipedia.org/wiki/Ecotrust
They have 5 NONPROFIT Enterprises and 4 Partners:
The Ecotrust = ShoreBank Enterprise Cascadia -?1992 ?1995
?1997
EcoTrust is a nonprofit organization dedicated to building a conservation economy in the Pacific Northwest and to mobilizing people around conservation of the region’s resources. In 1997, Ecotrust and ShoreBank Corporation formed a partnership to create ShoreBank Pacific. EcoTrust raised capital for its own investment in ShoreBank, and the two organizations continue to collaborate broadly in the region.
To help build a conservation economy in the Pacific Northwest, Ecotrust has characterized a large portion of the region as “Salmon Nation” and articulated a strategy for its prosperity. A conservation economy promotes economic relationships that maintain ecological integrity while advancing social equity.
Salmon Nation represents a place that follows the coast from Alaska to California where salmon holds a keystone position in history and the economy. By promoting this notion, Ecotrust hopes to inspire a sense of pride, citizenship and environmental responsibility in the people who live in the region.
Northern Inititives = Northern Michigan University - 1992
rthern Michigan University (NMU) is a public university in Michigan’s spectacular Upper Peninsula. In 1992, NMU partnered with ShoreBank to re-form an acacdemic department as a nonprofit community development corporation, now called Northern Initiatives. It’s purpose is to improve economic conditions and develop communities in the Upper Peninsula.
Located in Marquette, Michigan, Northern Michigan University is a four-year, coeducational university with about 9,600 undergraduate and graduate students. NMU’s vision is to become a the university of choice for students seeking to receive individualized attention from accomplished faculty delivering a quality academic program in a high-tech learning environment. NMU offers 140 academic programs and each student is issued a ThinkPad or iBook notebook computer as part of tuition and fees. Campus facilities include new art and design studios, clinical science labs, on-campus radio stations, and a public TV station. About 80 percent of NMU’s faculty members hold doctorates or the highest degrees in their fields.
Detroit ShoreBank Enterprise = Detroit Renaissance - 1970
Detroit Renaissance is a private, nonprofit organization that brings the business community’s leadership and resources together to encourage the physical and economic revitalization of Detroit and Southeast Michigan. The organization was formed in 1970 by business leaders concerned with transforming the city’s troubled past into a promising future. In addition to physical and economic development initiatives, Detroit Renaissance reviews public policy questions and develops a legislative agenda on selected issues.
The Detroit Renaissance board of directors is composed of the chief executive officers of major Southeast Michigan corporations. The Big Three automobile manufacturers and related supplier companies, utilities and financial institutions comprise the largest membership block. Service firms are also active participants.
Detroit Renaissance created The Detroit Investment Fund in 1995 as a for-profit private capital fund to provide financing to growth-oriented businesses, progressive, high-impact real estate projects and special projects which address strategic needs of the city of Detroit.
Cleveland Shorebank Enterprise = The Greater Cleveland Trust - 1994
The Greater Cleveland Partnership (GCP), the primary voice for businesses in Greater Cleveland, seeks to create jobs and wealth, and improve the economic vitality of the region. It was instrumental in bringing ShoreBank to Cleveland in 1994, and helped raise capital to make the expansion possible.
Its priorities include technology, innovation and high-growth businesses; connected physical development; education and workforce development; and business attraction, retention and expansion. As the largest private-sector economic development organization in Ohio, GCP emphasizes service to its more than 16,100 members; advocacy on behalf of members and the region; diversity and inclusion; and internationalization of the region and its businesses.
FDIC NOTICE - ShoreBank is participating in the FDIC’s Transaction Account Guarantee Program. Under the program, through June 30, 2010, all noninterest-bearing transaction accounts are fully guaranteed by the FDIC for the entire amount in the account. General FDIC coverage for deposit accounts has also been increased to $250,000 per depositor through December 31, 2013
http://www.shorebankcorp.com/bins/site/templates/child.asp?area_4=pages/nav/partners/right_side.dat&area_7=pages/titles/partners_title.dat&area_2=pages/partners/landing.dat#cleveland
The 5th NONPROFIT - “A Certified Nonprofit Community Development Financial Institution (CDIF)they listed as ShoreBank Chicago Institute - 1978
I guess the rest are profit making? They’re listed as having $2B in 2008 and are emphatic they didn’t give SUBPRIME loans. Why did the face such significant losses in 2009? They now want $200 million to bail them out.
They mention TRIPLE BOTTOM LINE (TBL) in regards to Ecotrust which is apparently a United Nations order to equally prioritize profits, impact of people and the impact of a project on the environment.
TRIPLE BOTTOM LINE -
With the ratification of the United Nations and ICLEI TBL standard for urban and community accounting in early 2007, this became the dominant approach to public sector full cost accounting. Similar UN standards apply to natural capital and human capital measurement to assist in measurements required by TBL, e.g. the ecoBudget standard for reporting ecological footprint.
In the private sector, a commitment to corporate social responsibility implies a commitment to some form of TBL reporting. This is distinct from the more limited changes required to deal only with ecological issues.
http://en.wikipedia.org/wiki/Triple_bottom_line
Bottomline - Spain is broke because they followed the dictates of the UN. Carbon footprints are a joke - my plants and I exchange gases daily. Climate Change happens daily. It’s obviously their vehicle to make money and keep the land and resources protected for themselves while they herd us like cattle into the urban zones they’ve designed for us. This is where we’ll work, sleep, walk, and shop without leaving our assigned sector. There will be no cars (except for them) we will travel via train only and with permission and PAPERS. It’s disgusting that we’re falling for their crap, and that we’re funding these nonprofit ecotrust people, who never actually do a days work, to chase our small business - farmers, fishermen, loggers etc., off their land and out of work thus emptying out small towns. It’s time to STOP this whole charade.
How can a nonprofit bank fund a nonprofit environmentalist movement anyway. It makes no sense unless they’re making mucho money on their profit areas aka non-CDFI’s which I don’t think they have in the first place. Ecotrust is now international. ShoreBank is also international. Whose money are they using? CLOSE THE MONEY SPIGOT!
ShoreBank International -
Selected SBI International highlights -
Assisted 77 partner banks advance $633 million of over 73,000 loans
The average charge-off rate in the above portfolios was less than 1.0%
Trained over 5,000 bank loan officers on small business lending
Helped microfinance institutions in Asia and East Africa convert to banks
The ShoreCap Companies
In 2003, ShoreBank formed the ShoreCap Companies based on the values and operating principles that have made SBI a leader in rebuilding local economies. ShoreCap also taps the resources of SBI.
Together SBI and SCE work with other like-minded organizations and individuals, to catalyze increased economic activity in under-invested communities. SCE provides financial support, operating systems and institutional support to create permanent, locally controlled financial institutions that serve small and micro businesses to achieve sustainable development impact.
http://www.sbksbi.com/index.php?p=601
http://www.sbksbi.com/index.php?p=602
This seems to be a United Nations project full of NGO’s. I just checked - they want to bring it to “Main Street”.