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Author Topic: Starting a non-profit bank to facilitate libertarians to move to NH.  (Read 5354 times)

Dreepa

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Re: Starting a non-profit bank to facilitate libertarians to move to NH.
« Reply #15 on: September 29, 2006, 06:59:17 pm »

how curiously addictive it is to fight for freedom when dozens of people around you are doing the same.


It is crazy.
I have written more LTEs since moving to NH (1 year ago) than the previous 30 years.
I have gone to more events, more protests, written to the people who 'supposedly' represent me, donated money and time to campaigns all since moving to NH.  Denis is write it is addictive.  And then when locals start to join you know you are doing something right.

Come people... 1000 people can do crazy things! Come to NH. Come home.
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Dave Mincin

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Re: Starting a non-profit bank to facilitate libertarians to move to NH.
« Reply #16 on: September 29, 2006, 08:32:54 pm »

I explored the possibility of a porc credit union a couple years back, even met
with the NH Bank commissioner.  We had a few folks with the resources to
make it happen committed.

First off ,a bank is out of the question....The need for upfront capital is way
beyond even our most wealthy members.

A credit union is by charter non-profit, so that would be the only way to
go, but then again to gain a charter, either state or federal? You need alot of
up front money.  Filings, office equipment, computers, insurance, etx.....So first you
need tens of thousands to just get it rolling.  Then you need to determine
if you want a national or state charter.  Then you need a business plan, then
you need to be able to project cash flow....1 year, 5 years, 10 years.

Basicly we bogged down on whether it should be a state charter. or a national
charter.  Given many of our thoughts on our need to stay away from the feds.

Problem with a state charter, only folks who live in NH can save, and thus build
working capital.  With a federal charter, you can drawl resources nationally, but
it wouldn't be a NH based business enterprise.

We haven't even touched on the need for qualified folks to get the operation
off the ground.

My thought then and now.  It's a great idea, but not doable given our limited
resources.

Would love to see someone step forward and prove me wrong. 
« Last Edit: September 29, 2006, 08:41:08 pm by Dave Mincin »
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garthwaited

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Re: Starting a non-profit bank to facilitate libertarians to move to NH.
« Reply #17 on: November 06, 2006, 04:48:09 pm »

First, Hi Dave.  It's the guy at Kevin's party that called you John.  b)

Problem with a state charter, only folks who live in NH can save, and thus build
working capital.  With a federal charter, you can drawl resources nationally, but
it wouldn't be a NH based business enterprise.
[/qoute]
My thought then and now.  It's a great idea, but not doable given our limited
resources.

Would love to see someone step forward and prove me wrong. 

So... why not base it off-shore? 

And I like to bounce the site Prosper.com off Free Staters.  Especially with headlines like this:
Former Wells Fargo Chief Joins Prosper's Board of Directors. Business Wire, June 19, 2006.
Quote
« Last Edit: November 08, 2006, 01:08:41 pm by garthwaited »
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Dave Mincin

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Re: Starting a non-profit bank to facilitate libertarians to move to NH.
« Reply #18 on: November 06, 2006, 09:05:50 pm »

I've been called worse! :D  Actually John B is our ace number one mover guy! ;D

Thinking to move this idea forward we would need one person schooled in the world of
banking.
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