<div dir="ltr"><br><br><div class="gmail_quote"><div dir="ltr" class="gmail_attr">---------- Forwarded message ---------<br>From: <strong class="gmail_sendername" dir="auto">Schumacher Center for a New Economics</strong> <span dir="auto"><<a href="mailto:schumacher@centerforneweconomics.org">schumacher@centerforneweconomics.org</a>></span><br>Date: Sat, Feb 6, 2021 at 9:50 PM<br>Subject: What's Your Money Doing Tonight?<br>To: Michel Bauwens <<a href="mailto:michel@p2pfoundation.net">michel@p2pfoundation.net</a>><br></div><br><br><u></u>
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<div style="text-align:center"><span style="font-size:12px"><em>Railroad Street, Great Barrington photographed by Julie Bidwell, 2016</em></span></div>
<br>
Dear Michel Bauwens,
<br>
<br>
Do you know what your money is doing tonight? Community bank depositors can be pretty sure theirs is supporting local businesses on their respective Main Streets. Unlike their Wall Street counterparts, community banks are often owned and operated by members of the local community who understand the needs of their neighbors and are well-equipped to make lending decisions that benefit local consumers and producers. Put simply, big banks <em>remove</em> capital from communities while community banks <em>circulate</em> it, invigorating the local economy.
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<div style="text-align:left">Community Banks like Lee Bank, Salisbury Bank and Trust, and Pittsfield Cooperative Bank are almost like bond investors in the local community. But this is what we should be doing because the capital we’re leveraging was built up over years and years from deposit (funding) and lending (interest income) activity here in the Berkshires. All of us also take this a step further and invest tremendously in our employees so they feel good about their employer and their employment situation and in turn have the confidence to spend some of their discretionary or non-discretionary income locally.<br>
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<div style="text-align:right">Chuck Leach, President and CEO of Lee Bank</div>
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<p dir="ltr" style="margin:10px 0;padding:0;color:#202020;font-family:Helvetica;font-size:16px;line-height:150%;text-align:left">On Thursday, February 11th at 2 PM EST, the Schumacher Center for a New Economics and BerkShares, Inc. will host a virtual <a href="https://centerforneweconomics.us5.list-manage.com/track/click?u=69d509d113032e3126c4543ce&id=ead6f7e35f&e=639a116680" style="color:#1e534a;font-weight:normal;text-decoration:underline" target="_blank">Community Banking Roundtable</a> with presidents Jay Anderson of Pittsfield Cooperative Bank, Rick Cantele of Salisbury Bank and Trust Company, and Chuck Leach of Lee Bank to highlight the role and defining characteristics of community banks. The speakers represent the three banks that partner with <a href="http://www.berkshares.org" style="color:#1e534a;font-weight:normal;text-decoration:underline" target="_blank">BerkShares Inc</a>. to distribute the local currency throughout the Berkshire region. These banks’ scale and focus encourage and facilitate the partnership. <br>
<br>
This conversation will be moderated by Alice Maggio, former director of BerkShares, Inc., a corporator of Lee Bank, and member of the Schumacher Center's Board of Directors. This free webinar will take place from 2:00 to 3:30 PM EST via Zoom. <a href="https://centerforneweconomics.us5.list-manage.com/track/click?u=69d509d113032e3126c4543ce&id=b003f7659a&e=639a116680" style="color:#1e534a;font-weight:normal;text-decoration:underline" target="_blank">Register here.</a></p>
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Please join us on February 11th for this discussion.<br>
<br>
Wishing All Well,<br>
Staff of the Schumacher Center
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</div><br clear="all"><div><br></div>-- <br><div dir="ltr" class="gmail_signature" data-smartmail="gmail_signature"><div dir="ltr"><div><div dir="ltr"><div>Check out the Commons Transition Plan here at: <a href="http://commonstransition.org" target="_blank">http://commonstransition.org</a> </div><div><br></div>P2P Foundation: <a href="http://p2pfoundation.net" target="_blank">http://p2pfoundation.net</a> - <a href="http://blog.p2pfoundation.net" target="_blank">http://blog.p2pfoundation.net</a> <br><br><a href="http://lists.ourproject.org/cgi-bin/mailman/listinfo/p2p-foundation" target="_blank"></a>Updates: <a href="http://twitter.com/mbauwens" target="_blank">http://twitter.com/mbauwens</a>; <a href="http://www.facebook.com/mbauwens" target="_blank">http://www.facebook.com/mbauwens</a><br><br>#82 on the (En)Rich list: <a href="http://enrichlist.org/the-complete-list/" target="_blank">http://enrichlist.org/the-complete-list/</a> <br></div></div></div></div></div>