Low-income CU vs Payday Lending

This Tuesday, Mark Koller, Club #14 member, will update the club on his work with a group that has started a low-income credit union offering an alternative to payday loans, also called cash advances. Community Hope Federal Credit Union opened its doors this summer and is designed to help people who lack access to mainstream banks or credit unions. Community Hope provides services like reasonably-priced short-term personal loans, payroll check cashing, checking and savings accounts and other financial products to people who live, work, worship, learn or use poverty-alleviation services in a large area of central Lincoln. 

 

Koller will discuss how the credit union came to be and how Community Hope will accomplish their vision to ensure members will be financially healthy and working toward a hopeful future. That vision includes goals for our community including fewer instances of homelessness; a reduction in poverty; and a healthier, safer and economically strong community.