The Middle Class United Cooperative (MCU), a start-up real estate cooperative created by TikTok influencer Joe “OlderMillennial” Redden, announced that it raised $3.3 million and more than 6,500 members in its first two weeks.
MCU’s first round of membership is capped at 40,000 members. Each member can invest a minimum and maximum of $500, which is designed to ensure every member has equal influence in voting for investments and nonprofit charitable activities.
MCU raised more than $2 million and attracted 5,000 members within the first 24 hours of its launch. Redden, a former Army veteran, uses his TikTok channel to address housing affordability issues and to encourage financial stability for middle-class families.
“MCU’s early success is a testament to the power of community-driven initiatives and innovative solutions in tackling pressing social issues. We are thrilled with the overwhelming support and rapid growth of MCU,” said Redden. “Our rapid growth shows the power of community and the urgent need for affordable housing. MCU is here to redefine what’s possible for the middle class. We’re creating more than just affordable housing; we’re creating a future where the middle class has a voice and a stake in their own success.”
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