I'd like to see a not for profit bank in the sense that the profit the bank does... | Hacker News

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		pan69 on Sept 4, 2014 \| parent \| context \| favorite \| on: Ask HN: What's your best startup idea that you're ... I'd like to see a not for profit bank in the sense that the profit the bank does make, goes directly back into the local community surrounding the bank. The bank would have a physical presence but strong and modern on-line support.

kohanz on Sept 4, 2014 | [–]

It sounds like you're describing a credit union.

http://en.wikipedia.org/wiki/Credit_union

aptwebapps on Sept 4, 2014 | | [–]

That just validates the idea.

PaulRobinson on Sept 4, 2014 | [–]

Research credit unions and UK "building societies".

Many of them around today pre-date the bigger banks by some years.

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