Economic analyst David Korten is author of the book "Agenda for a New Economy." KORTEN: A bank that offers real financial services is very different than a predator bank that is basically trying to extract as much wealth as possible out of the community. Note that Bremer is a for-profit bank. So far, not so weird. But listen to its structure: 8 percent of Bremer is owned by its employees -- its tellers, loan officers, security guards. And the other 92 percent of the bank is owned by -- get this -- a charity. The Bremer Charitable Foundation takes profits and gives them back to the communities the bank serves as grants. There were about $23 million in Bremer grants last year, including $35,000 to Community of Care, a North Dakota non-profit that helps older people like Louise Flemmer get to a doctor's appointments.
View the APM Marketplace feature story here. Download this episode of APM Marketplace here. See also:
When Corporations Rule the World
,
The Great Turning: From Empire to Earth Community
,
The Post Corporate World: Life After Capitalism
,
Globalizing Civil Society (Open Media Pamphlet Series, 4)
