Authors: Hellerbach, Kathi, and Rubinowitz, Leonard S
Summary
This is the second of several papers which discuss strategies that can be undertaken by the voluntary sector to address the problems of disinvestment. The strategy of “greenlining”–so-called by its proponents because it seeks to use the threat of mass withdrawals from a financial institution to increase the flow of mortgage credit into a neighborhood, and, thereby, to reduce or eliminate “redlining” — began in Chicago around 1970. In addition to discussing how the strategy has been used in several cities, the author points out that there are several conditions which must be present before individuals and organizations actually will withdraw their deposits when requested to do so by the organizers of the greenlining campaign. Appendix A consists of a copy of an agreement between the Bank of Ravenswood and the Organization of the Northeast (O.N.E.) in Chicago, Illinois. It is typical of agreements negotiated by community groups which have used the selective depositing strategy, and it is used herein with the permission of the parties involved.
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Selective Depositing by Individuals and Organizations to Encourage Reinvestment
