racial capitalism

Using diverse economies and relational poverty insights, we examine the place-making practices of the cooperatively owned and democratically structured financial institutions – credit unions. In the U.S., they represent the rarely recognized but widely spread local banking systems that prioritize interests of communities over profit-maximization for outside investors. Their mission to a large degree aligns with anti-poverty and anti-racist social justice struggles and with the ethics of “solidarity” economy, a growing international movement.

Solidarity economies, characterized by diverse practices of cooperation and mutual support, have long played pivotal but largely invisible roles in fostering shared survival and envisioning alternatives to racial capitalism globally and in the United States. This book maps the thriving existence of these cooperative networks in three differently sized American cities, highlighting their commitment to cooperation, democracy, and inclusion and demonstrating the desire-and the pressing need-to establish alternative foundations for social and economic justice.