= Member Loans =

At our [[http://logs.mattcarberry.hcoop.net/hcoop/2014/hcoop.2014-05-18-20.12.html|last board meeting]], it was decided that a pressing issue is getting more hardware to provide members with better service, value, and capabilities.

In particular, we would like to acquire a new virtualization server.  See NewServerDiscussion2014 on the wiki for some details.

We estimate that it would cost about $3,300 for a suitable machine, although various accessories are liable to bump that up a bit.  With the reserves that the co-op has now, this means that we have a deficiency of about $2,000 to go ahead with buying a server while retaining sufficient reserves.  The current dues and dynamism of HCoop is such that at the present rate we are not going to save up this money under the status quo in any reasonable period of time.

This is where you, the member-owners of HCoop Inc. come in.  We are hoping that members will be willing to extend loans to cover the difference and help make this happen.  To keep it simple, we are proposing 24-month, zero-interest loans, taken out of your HCoop balance up front and credited back into your HCoop balance in equal installments each month for two years.  If a few people would be willing to let HCoop use their money this way for a couple of years, that's would get HCoop a long way towards providing even more awesome and robust services.  We expect this level of loan service would have no substantial effect on dues, hopefully "if we build it, they will come." In any case, a more updated server will bring with it a higher level of performance and availability.

By borrowing from its members, HCoop saves money that would otherwise be paid to financial institutions and passed on to members in dues.

How we think this will work:
 * If we get enough loan pledges, the board will finalize its decision on the amount to borrow and authorize for equipment purchase. Members with pledges will be asked to commit to their their loans.
 * You must ensure that your member balance is topped up with sufficient funds to cover the amount of your loan as well as the required minimum member balance.
 * When the loan is disbursed, your account will be debited for the amount of the loan.
 * For the next 24 months afterward, your account will be credited for 1/24 of your loan amount. Ordinary dues will continue to be deducted from your account as usual.
 * You can request a refund of amounts in your member balance via the usual means at any time.
 * How to deal with transfer costs is TBD and ideas are welcome. Perhaps the simplest and fairest thing would be for HCoop to Paypal members their repayments back each month and eat the cost.

== Loan Pledges ==
For planning purposes, we need to have an idea of what we can borrow from our members.

To join the server loan pledge drive, add your name and the amount below, or to do so more privately, email board@hcoop.net with the subject "Server Loan Pledge" and the amount in the message body, and the amount will be listed anonymously below. Please list the amount you are actually willing to lend, but your commitment is nonbinding until a decision is actually made by the board.
 * NathanKennedy - $400
 * dmwit - $200
 * dbrownst - $200
 * xxcn - $200
 * zrajm - $200
 * mikestewart - $100
 * robert - $100
 * aizak - $200
 * Anonymous 1 - $228
 * luna - $200
 * wisnesky - $200
 * notd - $200

== Donations ==
If you are feeling particularly altruistic and wish to make an outright gift towards HCoop's operation, add funds to your balance through the [[https://members.hcoop.net/portal/portal|portal]] and then email board@hcoop.net regarding your intent to donate.  Keep in mind that while not-for-profit, HCoop is not a charity and gifts are not tax-deductible.

 * ClintonEbadi - $500