The $12 million Greater Abbeville Federal Credit Union inAbbeville, S.C., has started a new program to help local residentswith troubled credit scores open their own checking accounts.
|The credit union said the Fresh Start Account is aimed at peoplewho have been turned away from other financial institutions due tominor credit and financial issues.
|Free financial counseling will be provided to Fresh Start Accountmembers to help with any financial difficulties, GAFCU said. “Lastfall our staff and board met to define common financial issues thatwe see and how our credit union could be part of the solution tosome of those problems,” said Faye Crocker, president/CEO of GAFCU.“The Fresh Start Account is just the beginning of how we believeGAFCU can be the source of hope for a better financial future ofour friends and neighbors in Abbeville.”
|The credit union said that it will offset the financial risk andadministrative cost of running the program through a monthly fee.If, after 12 months, a member using the Fresh Start Account isstill in good standing, the monthly fee will be eliminated.
|The account will then be changed to a traditional free checkingaccount, GAFCU said.
|Complete your profile to continue reading and get FREE access to CUTimes.com, part of your ALM digital membership.
Your access to unlimited CUTimes.com content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Critical CUTimes.com information including comprehensive product and service provider listings via the Marketplace Directory, CU Careers, resources from industry leaders, webcasts, and breaking news, analysis and more with our informative Newsletters.
- Exclusive discounts on ALM and CU Times events.
- Access to other award-winning ALM websites including Law.com and GlobeSt.com.
Already have an account? Sign In
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
