I very much appreciate Jim Wallis’ commentary (“Time to Move Your Money?” March 2010). There are, however, better reasons for moving money than anger (much as it’s warranted) at the traditional big bank crowd.
Though their work is still woefully underreported, quite a few people have pioneered the work of community funding and microfinance investing. In my previous work with the Baptist Peace Fellowship, we initiated an effort called the Gleaners’ Project to encourage individuals and congregations to place at least part of their savings in institutions that provide working capital in poorer communities here in the U.S. and abroad. We set a goal for the initial year of redirecting $100,000 to alternative economic institutions. Imagine our shock (not to mention joy) when the total exceeded $1 million. It is a relatively simple, safe, and productive way to allow gospel values to guide decisions about money.
Asheville, North Carolina