More to the point, here's our (draft) mission statement for Common Good Economy:
Common Good Economy is a revolution with a bank — a democratic, community-centered economic system that puts people and planet first, so that everyone has enough to eat, a home, healthcare, satisfying work, and a livable world.
We know what Common Good Bank will do, how it will do that, and why it will do what it does. It's actually pretty simple:
What it will do:
provide typical community banking services, in partnership with local businesses and nonprofit organizations.
provide a platform for innovative, community-level financial cooperation, that can serve as the foundation for a just and sustainable economic system
empower groups of depositors in any community to discuss and set priorities for investment in their community and to decide how the profits from those investments are distributed for the greater good of all.
How it will do that:
transparently
lending only to socially and environmentally responsible borrowers
emphasizing loans to owner-operated businesses and cooperative initiatives
leveraging the power of the internet and cell technology
with superior security and efficiency
Why it will do what it does:
for the common good of its depositors, the wider community, and the world
to transition human society to a just and sustainable economic system
The challenge for us is to express this mission in a short, powerfully exciting, easily understood sentence. In this topic we will present and discuss proposals for a mission statement for Common Good Bank.
Current best statement:
Common Good Bank provides conventional community banking services, but depositors in each community decide what the bank should invest in and how the profits will be distributed for the good of all.
Post edited 2:04 am – November 29, 2010 by Richard Todd Chinnock
The mission of Common Good Bank is to engineer a financial engine that is tuned to the values and principles of a democratic society. Common Good Bank is the natural reaction of the Common Wo/Man to the usurpation of their potential to act in good conscience. Common Good Bank asserts that only when every voice has been heard and counted for will we live with sustainable wealth.
Today, only those aligned with large capital pools have a voice in society. Thus is our problem. Thus is Common Good Bank our solution. Our mission is for YOU to realize your power and greatness and apply it to this magnificent tool we have co-created. In every moment the CGB framework remembers the question, "How will our children's children lives be changed by our actions?"
This mission to create a new, fair, sustainable economic order where the common good of all is paramount is the pressing issue for all generations living in these times.
Common Good Banking is designed to give communities the power to imagine and then fund projects that increase the common wealth, serve a public purpose or increase the common good. Common Good Banking gives ordinary people democratic control of banking so that what gets funded by either loans or grants reflects their values.
So far, from my perspective, all of our statements thus far seem to restate what CGB DOES as opposed to what it's purpose is.
Common Good Banking is designed to give communities the power to imagine and then fund projects that increase the common wealth, serve a public purpose or increase the common good. Common Good Banking gives ordinary people democratic control of banking so that what gets funded by either loans or grants reflects their values.
Great observations, we have to do our best to convey our meaning by choosing the best words, etc. and we can never assume that the listener agrees with the meaning that we might attach to a given word. That's why face to face interaction is so important, we can discern whether someone understands often by their physical reaction, but if it is still not apparent it's up to us to ascertain their interpretation of important concepts by just asking them directly, if we're not sure they follow us. The first and most important requirement is that we ourselves know (have internalized) the critical components of our message, and then LISTEN intently for signs of their comprehension – there is simply no substitute for clarity on our part and then a commitment to true dialogue. We will find the words.
I think the term we are using right now is "Common Good Financial Institution." I go on to explain how a CGFI is based on a new type of banking model. A.K.A Democratic participation of the depositor/owners to create money through lending, income caps for executives, and redistribution of profits.
Definately some more thought should be given to this.
I honestly get more feedback pertaining to the "Common Good" aspect of the name. Some have felt that it is a term that is too far left on the political spectrum.
Speaking of "investment" how about some other words we are using
I am intrigued about how to present information to people. I'm not much of a salesman, but I think I do a fair job of organizing information for presentation. A primary question I usually have in mind is, What do I most want to communicate–what's the main thing?
The answer to this question is not so simple. We often have many things we want to communicate. We are also stuck with words to use that don't really say what we want to say. So we often toss words out and hope people will get what we want them to get.
I have a masters in educational psychology. Although most of my graduate work was in counseling, I had to take courses in teaching and learning as well. We are on the right track, I think, to "keep it simple", but we also need to keep it clear. I also had to practice this sort of thing as a pastor trying to present information, ideas, concepts to ordinary folk.
Another problem I think we need to correct is that of avoiding questions that people must have on their minds, whether or not they are willing or able to articulate them.
Let me start with the word "bank."
Now I realize that we are probably stuck with that word becasue we don't have any other word to identify CGB AND ALSO because, as a legal matter, we have to use that word in order to function in a society that uses it to describe we are creating–even though it doesn't really fit very well. Therefore, when it comes to describing the CGB project, especially to prospective Founding Members, we need to quickly and immediately define what we mean by "bank" or we will, I believe, unwittingly create confusion before we have barely begun.
As an educational principle, it is harder to unlearn stuff and relearn it, than to just learn it in the first place. So, we can't avoid the fact that when people hear the word "bank" they see dollar signs, free checking, $50 incentives to start a new account, coast to coast ATMs, interest-bearing checking,m and so on. But we do need to realize that the word "bank" is loaded! AND we need to define it, shape it, and otherwise modify its meaning as soon as we possibly can, or else we will be way down the pike before the listener even begins to understand what it is we are talking about.
I think we need to give more thought to our use of the word "bank." In a group process you could ask people what comes to mind when they hear the word "bank." Write responses on a flipchart, or whatever. And then talk about what we are not. But even that takes too long.
How do we communicate what we ARE–IMMEDIATELY? I think we can flag the word, itself. Common Good "Bank" (italics). let's people know, right now, that we are talking about something different. Common Good UnBank! Rememeber the UnCola years? Common Good Banking System. let's people know we are talking about more than a bank. I don't know that I have the magic word, but I don't think we are doing ourselves any favor by simply using the word "bank."
In this same vein are expectations people typically have about banks AND expectation they have about changing banks. "What's in it for me?" is not a question people may ask up front, but I'll bet money it's in the back of their minds. I believe the question needs to be addressed right up front. Rather than talking about "free checking, full service, FDIC, or even the true rate of inflation" we should talk about ALTRUISM and values. i.e., this "bank" is about altruism. It is a values-driven "bank." And we should say so immediately, I think. It is about
ending world hunger and poverty
working for economic fairness and justice
reducing the risk of wars worldwide
supporting sustainable local economies based on democratic principles
and hastening the end of global warming
This is what this "bank" is about! not free checking, Atms and etc. and i think we need to communicate this in our first few breaths or words. Therefore,
Would you be interested in helping to create a community banking system aimed at
ending world hunger and poverty
working for economic fairness and justice
reducing the risk of wars worldwide
supporting sustainable local economies based on democratic principles
and hastening the end of global warming
and add,
For this reason, Common Good "Bank" may not be your only bank, your first bank, or your primary bank. You don't necessarily need to change banks. What we are asking is that you help us create a new kind of "bank" that could change the world as we know it! We are not necessarily asking people to change banks. an assumption I think most people have. I also think we need to communicate this in our first few breaths or words.
The next word in my sermon ! is "mission." Has anyone thought about the connotations of this word?
A missionary is a member of a religious group sent into an area to carry on ministries of the word, such as evangelism and literacy, or ministries of service, such as education, social justice, health care and economic development.[1][2] The word "mission" originates from 1598 when the Jesuits sent members abroad, derived from the Latin missionem (nom. missio), meaning "act of sending" or mittere, meaning "to send".[3] The word was used in light of its biblical usage; In the Latin translation of the Bible, Christ uses the word when sending the disciples to preach in his name: "He said therefore to them again: Peace be to you. As the Father hath sent me, I also send you." (Jn 20:21) and "And he said to them: The harvest indeed is great, but the labourers are few. Pray ye therefore the Lord of the harvest, that he send labourers into his harvest. 3 Go: Behold I send you as lambs among wolves." (Lk 10:2-3)
In Christian cultures the term is most commonly used for Christian missions, but it applies equally to any creed or ideology. [4]
Connotations are culture-specific. In our culture "mission" connotes religion, even Christianity. It's a dry word that speaks of drudgery, discomfort and not much fun. A term like "space mission" changes the meaning to adventure, excitement and even glory. Do we really want to keep using the word "mission?" Are there better words?
Common Good has never turned me on! I'm not sure it communicates what we want, either. "for the common good of humanity" works better for me. I like People's Bank, but that's been taken. How could we define "common good?" ??
Anyway, I think some of our most important words are working against us. And I think we need to reshape and communicate certain meanings as quickly as possible in our presentations. The more information given, the more risk of confusion. Keep it simple, yes. But also, be sure it is clear and communicates what we want it to.
end of sermon.
:)
P.S. Additional thought. I think it would be great if we could avoid the word "bank" in our name. How about Common Good Foundation. That way we could talk about the project more, not so mcuh about the bank. The bank is incidental to the project.
We could also use a name that did not mean anything, like ING, except not ING. How about ONG! Just kidding! or something happy like Bright New Day Foundation or New World Foundation. There is also mileage, I think, in using a poster child like Micheal.com. You know Micheal, the kid who rowed the boat ashore! Find a real Micheal in Africa or Bangladesh. Get his or her picture. Let Micheal come to symbolize what we are about.
Transparency is great. I just don't think it needs to be 100%. I would not want a camera in my bathroom, by thew way, not because i have anything to hide, but because I'm don't have a need for it. Otherwise, I think it's a great value to be transparent.
"Full transparency of all impersonal bank records"?
perhaps you have something more official or some industry specific term to describe banking records, yet still imply total security of personal information.
Yes, of course we mean transparent everywhere that transparency is sensible and legal. Personal information must be kept secure. This will be spelled out in Common Good Bank's formal documents.
"Full transparency of all impersonal bank records"?
perhaps you have something more official or some industry specific term to describe banking records, yet still imply total security of personal information.
"Provide traditional community banking services…" (I believe that the social conciousness would regard the word "typical" as being negative. As in, "Uhg, isn't that just typical of. . .Blacks, Jews, Bankers, Christians, Muslims, Mexicans, Whites, etc…)
How it will do that: "with superior security and efficiency" (The only thing I feel missing here is some recognition of the transparency of the bank)
Thanks Todd. Very sensible. I have incorporated these into the question and into the current best statement (see above in red).
We know what Common Good Bank will do, how it will do that, and why it will do what it does. It's actually pretty simple:
What it will do:
provide typical community banking services, in partnership with local businesses and nonprofit organizations.
provide a platform for innovative, community-level financial cooperation, that can serve as the foundation for a just and sustainable economic system
empower groups of depositors in any community to discuss and set priorities for investment in their community and to decide how the profits from those investments are distributed for the greater good of all.
How it will do that:
lending only to socially and environmentally responsible borrowers
emphasizing loans to owner-operated businesses and cooperative initiatives
leveraging the power of the internet and cell technology
with superior security and efficiency
Why it will do what it does:
for the common good of its depositors, the wider community, and the world
to transition human society to a just and sustainable economic system
The challenge for us is to express this mission in a short, powerfully exciting, easily understood sentence. In this topic we will present and discuss proposals for a mission statement for Common Good Bank.
What it will do:
"Provide traditional community banking services…" (I believe that the social conciousness would regard the word "typical" as being negative. As in, "Uhg, isn't that just typical of. . .Blacks, Jews, Bankers, Christians, Muslims, Mexicans, Whites, etc…)
"Empower groups of depositors…" (Considering the amount of input on the site regarding the word "empower" and your consistent use of the word in describing the CGB model I would like to encourage you in this practice. I feel as though the negative responses you have received are based on our societies history of somewhat arrogant hyper-individuism. I have come to realize that in order for a community to get along in good propriety then a healthy dose of humbleness is required. Empowerment is the realization that it can't be done alone. We only want those types of people who realize this, yes?)
How it will do that:
"with superior security and efficiency" (The only thing I feel missing here is some recognition of the transparency of the bank)
I love the simple design of what, how, and why. Hope this feedback is useful.
Common Good Bank will provide typical community banking services, but
YOU decide what the bank should invest in and how the profits will be
distributed for the good of all.
Okay, but (1) it doesn't read like a mission statement and (2) it leaves out the crucial piece: that each community acts as a virtual independent bank. How about this:
Common Good Bankprovides typical community banking services, but depositors in each community decide what the bank should invest in and how the profits will be distributed for the good of all.
We can still use the "you" language in promotional materials.
Post edited 8:54 pm – June 29, 2010 by Carol Lewis
I like #3. Short and to the point:
Common Good Bank will provide typical community banking services, but
YOU decide what the bank should invest in and how the profits will be
distributed for the good of all.
Here are some mission statements that have been proposed over the years (please number yours, too!):
1. Common Good Bank's mission is to advance the common good of its member depositors, the wider community, and the world.
By "common good" we mean:
First and foremost, the well-being of each and every individual person, including adequate food, clothing, shelter, healthcare, education, community, satisfying work, rest, and self-determination, empowering those most in need.
Second, peace and justice — a spirit of cooperation and community between all people, with compassionate sharing of the world's resources.
Third, a healthy, sustainable planet, with clean air, clean water, clean earth and a healthy and diverse population of animals and plants.
2. Common Good Bank's mission is to provide an infrastructure for easy-to-start, virtual, democratic community banks dedicated to the common good of all.
3. Common Good Bank will provide typical community banking services, but YOU decide what the bank should invest in and how the profits will be distributed for the good of all.
4. Common Good Bank will serve as the foundation for a new economic system — a democratic, community-based system that puts people and planet first.
5. Common Good Bank is designed to be the basis for a new economic system — a democratic, community-based system that can spread quickly to give everyone a home, healthy food, and satisfying work.
6. Common Good Bank, in partnership with local businesses and nonprofit organizations, will provide typical community banking services, with an emphasis on lending to owner-operated businesses and cooperative initiatives, as a platform for financial innovation, community-level guidance of investment decisions, and distribution of profits to nonprofit organizations, for the greater good of all.
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