PRIYA Finance & Community Development is a project whose focus is to develop a strong economic foundation for our Alachua ISKCON community by providing programs and resources to create a culture of prosperity and economic sustainability. By keeping our money within our community, everyone benefits.
YOU and the ISKCON of Alachua Community.
What's the Benefit?
An increase in community wealth.
To positively impact your community. For every $1000 invested, this program increases community wealth up to $113– That’s up to an 11.3% return!
Earn interest, while facilitating community members to save.
Investors – Earn Interest at higher rates than what banks offer at very low risk. Current CD Bonds offer rates of around 0.6% Through PFCD you’d earn 3%, that’s 5 times more!
Borrowers – Save money by paying less in interest. If you borrow $1000 from a bank at an interest rate of 26%, you pay $146.36 in interest in one year. With PFCD you would only pay $63.78 in interest* in one year. That’s a savings of $82.
Investors earn 3% $30.42
+ Borrowers save 56% $82.58
= New Money in the Community $113
*Includes all fees
In today’s world, families from time to time are forced to borrow money for a variety of reasons such as for a new car, household appliances, or their child’s education. Instead of having to pay exorbitant interest rates to banks who then take the money away from our community, PFCD offers great interest rates that guarantee the monies will stay within our own community. Community members are able to get a much lower interest rate on their loan which leads to exponential yearly savings. This will cause a cycle of prosperity where community members are able to save money that they then invest (and earn interest) in other community members who then are also able to save more and who can then also invest. This cycle of savings translates into greater community wealth overall. An increase in community wealth will allow us to increase support for the temple and other community projects from a strong, stable, personal economic footing.
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