NCB Expands Financing and Banking Services to Support Cohousing Communities
National Cooperative Bank (NCB), with 35 years of experience serving housing communities nationwide, is excited to expand into the cohousing sector with competitive banking products and services. What makes NCB unique is that the bank was created to address the financial needs of an underserved market niche – people who join together cooperatively to meet personal, social or business needs, especially in low-income communities.
“The National Cooperative Bank is excited to join with Coho/US’s work to expand the availability of cohousing as a housing option across the United States” stated Robert Jenkens, NCB’s Director of Social Initiatives. “Cohousing’s emphasis on democratic control and people joining together to meet the needs of the community is very much aligned with NCB’s cooperative principles. Further, cohousing’s emphasis on sustainable practices and economic diversity fit well with NCB’s commitment to supporting initiatives that strengthen America’s communities.”
As an innovative housing model that has yet to become a household word, Cohousing Communities have often been challenged in accessing financing for development. Having National Cooperative Bank serve as a national financial leader who understands and supports the cohousing model will be instrumental in the growth of cohousing communities.