Permaculture Credit Union

John McAndrew

In May 1997, thirty-five people, led by Bill Mollison, the founder of Permaculture, and Scott Pittman, Mollison’s student and the founder of the Permaculture Institute in Pojoaque, met in Santa Rosa, California to apply the principles of Permaculture to the creation of a credit union.

“If you have built castles in the air, your work need not be lost; that is where they should be. Now put the foundations under them.” – Henry David Thoreau

A steering committee was formed. Meetings and mailings followed. The Permaculture Credit Union opened in August 2000. Most new credit unions are financed with large investments from allied organizations or parent credit unions. If the term “seed money” was ever appropriately used, it was in reference to the birth of the PCU. We started with little besides an investment of volunteer labor and a determination to provide financial services that others wouldn’t.

“A credit union is a cooperative financial institution that is privately owned and controlled by its members, and operated for the purpose of promoting thrift, providing credit at reasonable rates, and providing other financial services to its members.” – Wikipedia

“Permaculture is
an ecological
design system
for sustainability
in all aspects of
human endeavor.”
– The Permaculture Institute

Credit unions have “fields of membership,” parameters that dictate who may and may not join. Usually, fields of membership are defined by where you live or work. In the case of the PCU, it is defined by whether you subscribe to the Ethics of Permaculture: Care of the Earth, Care of People, and Reinvestment of Surplus for the Betterment of Both. If you subscribe to these values, you may be a member of the PCU, regardless of where you live or work.

The Permaculture Credit Union pools the financial resources of people who believe in the ethics of Permaculture. We apply those resources to earth-friendly and socially responsible loans and investments.
– PCU Mission Statement

The community is important to farmers. It is to credit unions, as well. The credit unions in New Mexico have been enthusiastically supportive and offered tangible help as we maneuvered in uncertain regulations. While we are unique in the world of credit unions, we are anything but alone. We are proud members of NM’s community of credit unions. As an innovative, independent business, we also find value in our relationships with other members of the Santa Fe Business Alliance.

Though the PCU was formed by and for the use of the Permaculture community, its purpose has also been to expand the good effects of that community’s work. To that end, we make loans that others won’t make – or didn’t used to, until we showed up. We offer better rates than most, and are able to do so because our members are willing to accept a lower return so we can charge a lower rate to those who need to borrow. We offer a discount for sustainability, understanding that our Return On Investment consists in part in the health of our planet and people. We create other new and innovative loan packages because our members want to invest in gardens, fuel-efficient cars, student loans, solar panels, water catchment systems and other improvements to their homes and land. Before the PCU, finding a lender for any of those was impossible.