Share Loan Feedback and Information...

We received some very important feedback and information in response to our Share Loan article in the January 2014 issue of the messenger.  We thought it would be a good idea to share it with you.

Dear Randall:
Your article in the MAHC Messenger is one that cooperative directors and owners need to hear.  You are correct that progressive cooperatives need share based financing to maintain their value and meet emerging trends in the housing market.   Share lending puts cooperatives on the same competitive footing as condominiums.  Our industry will not grow, nor will it thrive unless financial tools like share based lending are available to our members. 

A handful of SAHC members decided to take action to protect their members’ investments over fifteen years ago.  They created Share Credit Corp as a non-profit lending institution dedicated to the single purpose of providing share based financing.

The cooperatives that participate in the program enjoy lower carrying charges, higher resale values and really great looking unit upgrades.  Share Credit has about 98% of its assets out in the form of loans to cooperative members.  At last count there were about 320 loans outstanding valued at more than 2.5 million dollars.  Families who otherwise may not afford to buy a co-op are now able to do so with loans extending for up to fifteen years. 

But sales are not the whole story.  Our residents also use share loans to finance kitchen and bath renovations, install new flooring systems, buy top of the line appliances and more.  Members use smaller equity loans for whatever financial need they may have.  Our members now have the financial power to put the value of their membership to work Whether it’s buying, remodeling, or going on a vacation, a cooperative home is now more than just a place to live.

Visit us at for more information about share lending.  I also invite you to visit to learn more about our SAHC member cooperatives.

Alex Miller
Executive Director
Southeast Association of Housing Cooperatives


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