Welcome to Brooklyn Cooperative’s blog! We decided to start a blog as a way to introduce ourselves. Credit unions aren’t as familiar to most people as banks, though our services are likely better suited to their needs. Hopefully, through this blog, we will show that.
BCoop Town Hall – Sep 2019
Posted by Samira Rajan @Sep 7 2019
It’s happening … . Brooklyn Coop is connecting the dots. We are transactors at a local financial institutions, we are members of a cooperative, we live and work and love and struggle and create community in Central Brooklyn, and ALL of that matters so deeply when it comes to building resilience, wealth, and opportunity.
This Town Hall — our third this year — was the most intense. Brooklyn Coop members listened closely to a ‘teach-in’ on how to read the financial statements of a credit union. The income statement is not hard since the concept of a budget is pretty intuitive. The balance sheet, however, is where the action is at and we spent 90+ minutes on the elements of a balance sheet that matter most to understanding the organization’s strengths and vulnerabilities. So many great questions! And, I think, a solid foundation for further discussion and sound governance decisions.
Click to download the Town Hall Slides and the Town Hall notes, then test your knowledge with a Quiz! See if you can Break Down the Balance Sheet of a small credit union on your own (answers on the last slide).
LOTS of conversation about these critical goals for Brooklyn Coop’s performance through 2021!