This article discusses how the "funds of knowledge" approach (FoK) offers a socially just alternative to the logics of capital, by drawing on knowledge assets from students' family and community lifeworlds to build engaging and rigorous learning, supporting school-community interactions that build capacities. We explain how we applied FoK in an action research project--Redesigning Pedagogies in the North (RPiN)--to design curriculum and pedagogy in schools of a high-poverty region. With reference to RPiN, we also observe how high-poverty regions, and their schools, appear to be undergoing complex unsettlements, as effects of globalisation, which raise problematic questions about who/what is "the local community". We argue that this calls for new thinking, both sociological and ethical, which can refine the FoK approach to take fuller account of the diverse and complex spaces of social-historical life in new times. We conclude by considering a pedagogical approach through which learners in such regions can re-imagine hopeful forms of community. (Contains 1 note.)