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NCDF Members Gather in Minneapolis
for 2015 Annual Meeting
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 More than seventy people came together on April 30 at Surly Brewing Company in Minneapolis for the NCDF 2015 Annual Meeting.
The event included a business meeting presided over by Board President Tom Pierson and Executive Director Christina Jennings, and included presentations by outgoing Treasurer Sharon Barber and Vice President Dave Swanson and Loan Committee Chair, Alex Betzenheimer. They reported on the year's strong financial performance and lending and program activities.
The meeting featured a forum titled Cooperatives for Social Justice. Three speakers, all affiliated with NCDF member cooperatives, spoke about the roles of cooperative in advancing social justice, as well as about the work that remains to be done. Nikki Marin Baena from the US Federation of Worker Cooperatives and the Democracy at Work Institute talked about her experience organizing worker cooperatives owned by immigrant women. LaDonna Sanders Redmond, food-justice activist and Seward Community Co-op outreach coordinator, spoke about the work of food co-ops in advancing food justice, as well as social justice and racial equality. Alex Green from NASCO (North American Students for Cooperation) spoke of how student housing cooperatives create a space for personal growth and organizing for social justice.
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| (From left) Aaron Reser of P6, Allison Meyer of
Seward Community Co-op and Diane Gloede of CROPP/Organic Valley |
Speakers challenged the audience to work toward building a diverse and inclusive movement rooted in racial and economic equity. NCDF's mission of economic democracy cannot be achieved when only a few have access. People of color as well as low-income people will need to be at the table too. Speakers urged the audience to work to build a diverse cooperative movement committed to equity and racial and economic justice. 
The meeting was followed by a reception featuring local craft brews and hors d'oeuvres made possible by the annual meeting premier sponsors: Organic Valley Family of Farms and South Metro Federal Credit Union.
We are also grateful for our major sponsors: Lakewinds Food Co-op, Linden Hills Co-op, National Co+op Grocers, Seward Community Co-op, and the Wedge Community Co-op. Our contributing sponsors include CDS Consulting, Eastside Food Co-op, Hampden Park Co-op, Mississippi Market, Replace Inc. and Spire Credit Union.
We thank everyone for their participation.
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Mark Fick joins NCDF as Director of Lending
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 At the end of May, Mark Fick joined NCDF staff as Director of Lending. Prior to joining NCDF, Mark served for ten years as the Senior Loan Officer and Director of Lending with the Chicago Community Loan Fund. Over the past 20 years, Mark has led community efforts to create equitable and democratic economic systems including developing cooperative housing and businesses, credit unions, community development corporations and grassroots organizing campaigns. In addition, Mark has been active as a co-founder of Chicago's newly formed cooperative business alliance.
"Mark brings a great combination of commitment to our mission and knowledge and expertise in cooperatives and CDFI lending," explains Christina Jennings, NCDF Executive Director. "Our team has had the chance to work with Mark on a number of co-op projects we have financed in Chicago, and we are thrilled to be able to bring him onto the NCDF team." Mark will lead NCDF's business development, provide loan underwriting and oversee lending functions of the organization. Mark is replacing Joe Riemann, who is shifting into the position of Associate Director overseeing operations and finance for NCDF. Mark will work virtually from his home office in Chicago and will work closely with NCDF Senior Loan Officers Brenda Pfahnl and Jim Shadko. Mark can be reached at mark@ncdf.coop.
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NCDF Makes Loan to Black Star Co-op Pub and Brewery
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Black Star Co-op Pub and Brewery opened in 2010 as the first cooperative brew pub in the United States and they have since been at the forefront of the wave of craft brewing. Their success paved the way, and since then, 18 more co-op brew pubs around the country have followed in their footsteps.
 Black Star is a democratically managed, consumer-owned co-op with over 3,000 owners in Austin, Texas. Since opening five years ago, they have garnered many awards for their beer and food, as well as recognition from the White House for being "a business model that works" for paying a living wage and empowering front-line workers. They've had a tremendous impact on the local economy, not only because they are locally owned, but many menu offerings are sourced locally as well. They are also a great environmental citizen: their building is LEED certified, all of their electricity comes from wind power, and they are a zero-waste business. They donate to community groups and formally support four nonprofits in Austin. Black Star is a popular place for all of those reasons and more, and nowadays, weekends at the pub mean long lines out the door.
Earlier this year, Black Star turned to NCDF for a $15,000 loan for both a new point-of-sale (POS) system that will help them more efficiently manage service, as well the purchase of a third mobile POS that will allow them flexibility to move the line faster indoors and out. In addition to improving service, the POS system will make it possible to track owner purchases. According to Dana Curtis, the co-op's business team leader, the data will help them better meet owner needs. "Tracking allows us to do all kinds of things to make members happy, like knowing their favorite beers and what they like to purchase." Eventually, it may also be part of a system for offering patronage dividends. Curtis said the new POS system is helping to position the business for expansion into a second location.
Curtis said that she thinks NCDF is instrumental to their success, as well as other small and worker-owned co-ops. "It is so powerful to have a place where co-ops of all sizes can get financing," she said. She believes that part of their ability to make a difference is that NCDF supports what they do. "It's the first place we'll look for financing our future plans."
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Two Food Co-ops in North Carolina Get Support from NCDF
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North Carolina welcomed the opening of the new start-up food co-op Durham Co-op Market, and celebrated the expansion launch for Hendersonville Community Co-op in back-to-back celebrations this past April.
 The Durham Co-op Market is a start-up co-op and has a newly constructed store located between downtown Durham and Duke University, with 7,000 square feet of retail space. The store is off to a very successful start with sales being significantly ahead of budget. The co-op was recently named Food Co-op Startup of the Year, an award sponsored by Food Co-op Initiative, CDS Consulting Cooperative and NCDF.
 The Hendersonville Community Co-op is also enjoying a newly constructed store with 8,000 square feet of retail space. This is more than double the size of their previous location. The store sits just a few blocks from the previous site on a busy intersection and enjoys a new meat and seafood department, as well as an expanded deli and produce department. There is a separate building which houses office and classroom space.
NCDF provided a loan to both co-ops in partnership with three other community development financial institutions (CDFIs): the Local Enterprise Assistance Fund (LEAF), the Natural Capital Investment Fund, and Self Help Credit Union.
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NCDF Board Elections Results
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Congratulations to the newly elected NCDF directors:
Thomas Beckett, Co-Executive Director, Carolina Common Enterprise (CCE), Hendersonville, NC
Jacqueline Hannah, Food Co-op Development Specialist, Food Co-op Initiative, Urbana, IL
Amy Johnson, Co-Director, US Federation of Worker Cooperatives, Oakland, CA
Elka Malkis, Finance Manager, Wedge Community Co-op, Minneapolis, MN
Dave Swanson, Partner, Dorsey Whitney, Minneapolis, MN
Jaime Villalaz, Greater Minnesota Business and Cooperative Specialist, Latino Economic Development Center (LEDC), Sauk Rapids, MN
We would also like to recognize two outgoing NCDF directors, Sharon Barber and John Flory and thank them for their dedicated service to NCDF. Both of these board members have made important contributions over the years to NCDF's success.
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Interns Support Our Work, Learn
About Cooperatives, Finance
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 We want to extend a big thank-you to Laura Abril for her work as an intern during the spring. Laura, who is from Arizona, just completed her sophomore year at Macalester College where she is studying economics. She assisted us with setting up data collection tools to track the impact of our work. She also did some lending research to help us consider new loan products. We appreciate her work and wish her well with her future endeavors.
 We also want to welcome our summer intern, Sari Hoffman-Dachelett. Sari is from Minneapolis and just completed her junior year at Lawrence University in Wisconsin where she is studying Anthropology and Government. She will be working on surveys and data collection and tracking. We are very pleased to have her working with us.
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