Why Are They Important?
Concern for community is one of the cooperative principles. And we know cooperatives want to make an impact in their communities, not just with providing reliable electricity but also with supporting the individuals in their communities in other ways. Working with cooperatives across the country, Homestead Advisers has seen some great ideas for how they give back. For example, some cooperatives have established scholarship trust accounts for the youth of their community. Others have established a revolving loan fund to provide funding for heat pumps, storm windows and doors.
If your state and board allow, consider investing unclaimed capital credits. Potential uses for the returns on these investments include infrastructure improvements, renewable energy projects, community development initiatives, scholarship accounts or even lowering electricity rates for members in need.
Our Role
Homestead Advisers can help support your mission by providing a range of programs to serve the needs of the cooperative and its employees.
Homestead Funds has the account types, investments and guidance to help foster the long-term success of your cooperative. When you open an account with Homestead Funds, you choose how to invest across our family of mutual funds according to your cooperative’s tolerance for risk and expected time horizon. Investing poses risks, including the risk of loss, but it provides the opportunity to earn a return above what is typically available on stable-value funding vehicles.
Entity or trust accounts are typically established by cooperatives for community purpose accounts.
Establishing an Account
- Determine the purpose of the account.
- Identify sources of funding.
- Consider if a committee is required to manage awards.
- Obtain any necessary approvals from your board of directors (if required).
- Open a Homestead Funds account using the application suited to your account type.
- You may need to include corporate governance documents such as Articles of Incorporation, Corporate Resolution or Partnership Agreement depending on the type of account you are opening.
Related Resources
Your Regional Relationship Manager can assist you with the process to open the account.
Brian Allen
NATIONAL RELATIONSHIP MANAGER; INVESTMENT ADVISOR REPRESENTATIVE; AND REGISTERED REPRESENTATIVE
Mark Edwards
REGIONAL RELATIONSHIP MANAGER; INVESTMENT ADVISOR REPRESENTATIVE; AND REGISTERED REPRESENTATIVE
Stephanie Mills
REGIONAL RELATIONSHIP MANAGER; INVESTMENT ADVISOR REPRESENTATIVE; AND REGISTERED REPRESENTATIVE
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