Post edited 2:59 pm – November 1, 2010 by wspademan

How to become a Common Good Bank organizer, step by step:

1. You join as a Founding Member.
2. You ask for publicity materials. We send you two dozen handout cards, 3 brochures, and 3 Membership Agreement forms.
3. You (on your own, not as a Common Good Finance staff member) get two other people or organizations to join.
4. You attend a 90-minute webinar and send us a digital photo and a couple sentences on what you find compelling about the Common Good Bank idea.
5. We (probably) hire you as an independent contractor. You sign a contract and send us your social security number, for tax reporting. We send you personalized Common Good Finance business cards, and plenty of brochures and Membership Agreement forms. You go to it.
6. You begin recording your hours online and get $25 an hour, limited to at most 60% of the donations that you raise (the donation part of the Founding Member signups) — including the two donations you already raised.
7. You attend weekly phone meetings for additional training and support.

Note that your hourly rate will only be as high as $25 an hour if you are very efficient and successful at recruiting members. For most organizers, you will do best to approach people who can afford the Oak level or higher (a donation of $250+) and invite them specifically to consider that membership level. If you are highly efficient and successful, you will get $25 an hour. If you are less efficient, you will get 60% of what you raise in donations (at a lower hourly rate).

Sweat-Equity Variation

Here is a sweat-equity variation for low-income organizers (if you can't afford to join as a Founding Member at the Half a Brick level). All requirements are the same as above, except numbers 1 and 6:

1. You donate $25 (the donation part of your Half-a Brick membership).

6. You begin recording your hours online and get $25 an hour, limited to at most 40% of the donations that you raise (the donation part of the Founding Member signups) — including the two donations you already raised. 20% of the donations you raise are held as a loan from you to Common Good Finance, to be repaid under the same terms as loans from other Founding Members. Once you have raised $5,625 in donations (the equivalent of about 23 Oak members), your percentage limit goes up to 60% and you make no further loans to Common Good Finance. You are then a Founding Member and Common Good Finance owes you a total of $1,125.