Almost everycredit union in America has the same basic story about its earlydays.

It goes something like this: Back in the mid 20^thcentury, a volunteer ran the credit union out of a cigar box duringlunch breaks at the school/plant/facility/office. Those who havemade a career out of credit unions have heard this story so manytimes, it's hard to imagine a credit union organizing and growingany other way.

Until now.

Equality Washington, a gay rights organization headquartered inSeattle, launched an indiegogo campaign Nov. 17 to raise $50,000 tofund a credit union.

If you're not familiar with indiegogo, it's one of the originalonline crowdfunding platforms, launching more than 200,000campaigns since 2008. It's so big, it's already live with ApplePay. (And your credit union probably isn't – so don't turn up yournose.)

Equality Credit Union would be an online credit union and wouldprovide deposit and lending products, including business loans. Itwould also provide specialized financial education for the lesbian,gay, bisexual and transgender community.

Imagine the tax and retirement planning complications a gaymarried couple faces with all the discrepancies between state andfederal law, and even among federal agencies. For example, gaymarriages are recognized for immigration status and federalemployee benefits. However, the Social Security Administration onlyrecognize marriages that are valid where the couple lives, so gayspouses aren't eligible for spousal benefits in most states. Therule also applies to Medicare, bankruptcy filings and benefitsunder the Family Medical Leave Act.

According to the group's indiegogo site, 13 states and theDistrict of Columbia have passed laws prohibiting creditdiscrimination based on sexual orientation. However, there is nofederal law that consistently protects LGBTQ people from creditdiscrimination.

For folks who remember the cigar box days, the idea of a gaycredit union probably sounds pretty radical.

However, the fundamentals of credit union organization couldn'tbe clearer.

There's clearly a demand for specific financial services forthis group, which is united by a common bond.

And historically, credit unions have been the last resortprovider for financial services to those denied services elsewhere.Oftentimes in our movement's history, that reason for denyingservices was discrimination.

It's no surprise these present-day credit union organizersturned to social media to organize, promote and even fund their newcooperative.

Most of the manufacturing plants that provided today's creditunions with their first members have closed. Increasingly,employees telecommute from home rather than gather together inlarge office facilities.

Those who do work in large facilities don't remain with the samecompany for their entire careers. Yes, once a member always amember, but if that common bond is severed, you're just anotherbank.

Society's common bonds have changed, but the ability of peopleto join forces has not.

Social media's ability to connect with people instantly, withoutgeographical limit, opens up a whole new world of human bonding.Rather than bond over a workplace, or even a physical community,people can now bond over shared ideas, experiences and causes.

Given how much time people spend connected to these communities,those bonds can grow to be as strong as those forged 50 years agoin the plant breakroom or teacher's lounge.

This change will eventually lead to the legislated eliminationof the common bond requirement for membership. Associational FOMsare already under scrutiny for departing from the spirit of thelaw.

However, more and more Americans don't qualify for membershipthe old fashioned way, so something has to give. I thinkassociational common bonds will attract more controversy first, asthey are increasingly used by existing credit unions to provide abackdoor to growth. But they will also be used by organizers toform new credit unions like Equality CU.

Eventually, changes in our society will prompt Congress to actand either radically rewrite field of membership laws or do awaywith the membership requirement altogether.

Eventually could be an awfully long time, though. For now, it'sintriguing to watch the pioneering Equality Credit Union use socialmedia to unite, promote, organize and fund its credit union.

What do you know, it turns out social media is good forsomething after all.