OSCA to Loan $166,000
BY ELIZABETH WALKER

The Oberlin Student Cooperative Association will be planting seeds beyond the boundaries of Oberlin College this year. Thanks to newly updated bylaws and better financial organization, OSCA will be expanding the number of low-interest loans made to local progressive organizations and other start-up cooperatives as a way of investing in the future of both OSCA and the community.
OSCA has already loaned $64,000 to causes including a large expansion of the Oberlin Sustainable Agriculture Project, a local low-income housing group and a new housing cooperative near Chicago. This year, the amount of money OSCA can invest in these kinds of projects has dramatically increased to $166,000.

(photo by Claire Sturm)

Every member of OSCA contributes a certain amount to the overall budget. Most of that money goes toward rent, food and other co-op expenses. Each year, some gets set aside and invested. While a portion of the money goes to more traditional investment venues like a money market account or mutual funds, some of it is lent out at low interest to local organizations that may find it hard to get funds elsewhere. Not only does OSCA receive their money back with interest, they also reap the less-tangible benefits of building the surrounding community.
“When you have people controlling money instead of banks controlling money, we can loan it out to people or organizations who wouldn’t be able to get a loan at a bank,” OSCA board member Ben Ezinga said. “Co-ops are fundamentally locally-based businesses. OSCA tries to keep as much of our money as possible in Lorain County, and to do business with people who have roots and connections here.”
Although the loan proposals are voted on in each co-op, it does not affect day-to-day operation of the co-ops and therefore most members of OSCA are unaware of this part of the OSCA system. 
“I think that OSCA does a really bad job in general, communicating between the board and the co-ops. But I have faith in the board that they’ll do things that are socially responsible, and that’s what is important to me,” first-year Mario Bruzzone said.
Although there is risk that the borrowers will default on the loan, the benefits make this worthwhile. Sophomore Katie Zukof said, “I think that it’s fabulous that we are so trusting. I wish everyone were this way. I think people are not as generous as they could be. It’s important to keep an open mind.”