MADISON, Wis. (3/31/14)--As founder and executive director of the Freelancers Union and the CEO of the Freelancers Insurance Co. (FIC), Sara Horowitz seeks to create social change by serving America's independent workers. Among the ways she advises independent workers to create value in their lives is by putting their money in credit unions.
In a recent interview with NBC journalist Mara Shriver, Horowitz described the value consumers can find in credit unions and cooperatives.
"People start to think about food and where their food comes from," Horowitz said. "They think about their expenses, and they say, 'You know, it starts to make sense for me to want to put my money in a credit union or to go to a food co-op.'"
Horowitz espouses a "Quiet Revolution," a social movement away from consumption and toward connection, away from individual acquisition and toward collective action. "It's a million small choices that, together, add up to big change," she writes on her website.
In a blog post written for the Freelancers Union, Lindsay Van Thoen urged independent workers to "put your money where your values are."
"Credit unions offer the same services as banks, but they are structured differently," Van Thoen explained, adding, "Credit unions are not-for-profit financial cooperatives. Any profit made by the credit union goes back to the members in the form of higher-yield savings accounts and lower loan rates.
"Because the credit union is controlled by members in the service of other members, it doesn't have any incentive to make profit at the expense of its members," Van Thoen continued. "The credit union wouldn't exist without its members."
Van Thoen specifically mentions San Francisco FCU and California CU, Glendale, as options for alternative banking.
Horowitz urges freelancers to spend both their time and money thoughtfully. "That's what the Quiet Revolution is all about--choosing to spend your life, time and money in ways that build something better for you and the people around you."