From: cman@IO.COM (Douglas Barnes)
Date: Mon, 11 Oct 93 09:26:15 PDT
To: msattler@netcom.com (Michael Sattler)
Subject: Re: The Bank of the Internet!? (fwd)
In-Reply-To: <9310111609.AA01224@netcom.netcom.com>
Message-ID: <9310111620.AA23813@illuminati.IO.COM>
MIME-Version: 1.0
Content-Type: text/plain


> 
> At 16:14 93/10/10 -40962758, Douglas Barnes wrote:
> 
> >At the moment we are beginning the process of surveying members of local
> >groups and employers in the high tech field to see if they are interested 
> >in being part of the field of membership of a fully digital Credit Union. 
> >We had our first Austin cypherpunks meeting yestereday, and it's clear that 
> >they will be the core of the new CU.
> 
> And when you look further... I'm ready!
> 

Because of (archaic) formation regulations, *a* Credit Union is restricted
pretty much to a single, distinct geographical region, i.e. Travis County,
Texas. CUs with national field of membership are apparently allowed, but an 
extremely tight associative bond is required (the somewhat scattershot 
associative bonds we hope to use in Austin would never fly on a national 
level.)

There is nothing, however, to prevent multiple CUs from being created,
with similar philosophies, that share software, expertise, etc. 

Doug

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Douglas Barnes            cman@illuminati.io.com            /  \ 
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