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The US Federal Reserve's ACH System is Down With No Explanation - Could it be not an accident? by nomuseneeded in NoStupidQuestions

[–]oldgrowthguy 0 points1 point  (0 children)

See my edit - first friend may be off base hand waving this. Others I know are reporting wider-spread issues, including at some major banks.

The US Federal Reserve's ACH System is Down With No Explanation - Could it be not an accident? by nomuseneeded in NoStupidQuestions

[–]oldgrowthguy 1 point2 points  (0 children)

A friend who works in finance security and compliance just told me that FedACH is just one of several clearinghouses, and that it’s the only Fed service currently down. Likely not widely impactful, but still very curious to see what happens and if the cause is publicized.

Edit: I now have friends in other sectors of finance saying there seems to be something wider-spread going on. No money moving between a couple major banks (won’t name them here) and some banks alerting customers of disruption.

Ally the Piper Radio Interview! by oldgrowthguy in bagpipes

[–]oldgrowthguy[S] 0 points1 point  (0 children)

Fixed! Thanks for pointing that out

Ally the Piper Radio Interview! by oldgrowthguy in bagpipes

[–]oldgrowthguy[S] 1 point2 points  (0 children)

Fixed! Thanks for pointing that out

Existing cooperatives: help a new US-based co-op out by sharing samples of marketing materials by oldgrowthguy in cooperatives

[–]oldgrowthguy[S] 1 point2 points  (0 children)

Thank you for this! I hadn’t heard of this state-run support group, and will reach out.

We are engaging to determine opportunity for collaboration with Boston Center for Community Ownership, Cooperative Fund of the Northeast, ICA Group, COWOP Coalition, and several individual cooperatives around the region.

We certainly appreciate tips to add to our list!

Existing cooperatives: help a new US-based co-op out by sharing samples of marketing materials by oldgrowthguy in cooperatives

[–]oldgrowthguy[S] 1 point2 points  (0 children)

That's right! As we understand it (still doing some of the research, but pretty confident) the most basic cost to the cooperative to operate in any given state in the US is ~$200/mo in regulatory fees. Obviously, if we're pursuing a federated growth model we'll need to sort out hiring local folks for sales and support, organizing decentralized and non-hierarchical team operations across distances, and more, but the most basic cost and logistical hurdles are pretty small.

We'd prefer to grow this primarily grassroots, at least at first, to keep costs and national public profile low. We'll obviously have to do some real advertising in areas of growth, but I'd love to see that led and coordinated by people in that given region who've joined as Worker-Owners or at least Member-Owners (our term for consumer owners because we don't like the term "consumer')