The notion of Occupy protesters starting credit unions acrossthe country after they get one formed in San Francisco was beingraised this week by one of the organizers of that effort.

Meanwhile, talks on creation of People's Reserve Credit Union continued with the CaliforniaDepartment of Financial Institutions.

Brian Mckeown, who calls himself an “Occupy camper” and asupporter of the credit union business model, said the buzz beganafter a dozen or more activists encamped in a San Francisco parkfirst seized on CU creation as a viable alternative to support the underservedOccupy's viral network.

“We've heard all over from Wall Street, Rhode Island andPennsylvania Occupy groups wanting more information from us on howwe are doing it,” said Mckeown.

Initial corporate documents, he said, were filed beforeThanksgiving with the California Secretary of State's office. Aspokeswoman for the California DFI said agency staffers “havespoken with a People's Reserve representative regarding theapplication process.”

A press release issued by Occupy said People's Reserve wouldstart with 500 members, a $7 million capital goal and offer suchservices as “micro-loans for the working poor and homeless andsubsidized student loans at low interest rates.”

Mckeown, a graduate of San Francisco State, said he knows enoughabout CU structure and lending from a small business background tounderstand the financial scope of the project.

He stressed that the proposed CU would not become a fundsgiveaway “supporting the middle class” but would adopt strict duediligence policies.

He said People's Reserve, which looks to get paperwork startedwith DFI in January, is already scouting possible leases for itsfirst branch in the Market Street corridor of downtown SanFrancisco.

Meanwhile, Mckeown dismissed as simply a nuisance a complaint byanother camper identified as Robert Benson who has challengedMckeown as leading a “rogue” group in Occupy without officialsanction.

Mckeown said Benson has been a “polarizing figure” in Occupy andhas “misperceptions” about the People's Reserve mission. Benson hasnot responded to Credit Union Times' emails forcomment.