The $586 million Freedom Credit Union said Friday that it has provided $650,000 in low interest rate loans to 670 of its members hit hard by Hurricane Sandy when the storm swept over Philadelphia.
The emergency relief loans were for up to $1,500 for 18 months and were approved quickly to allow members to begin their own recoveries from the mammoth storm, the credit union said in a statement.
The credit union quoted one member, Janice Jones, a Jefferson Hospital employee: “Words can’t express enough my gratitude for this service at such a time like this. Thank you again for all that you have done.”
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Freedom CU set aside $2 million for the loan fund and said applications for the loans will be taken until the fund is exhausted or Dec. 31.
Freedom CU is open to anyone who lives, works, worships, performs volunteer service or attends school in Bucks, Chester, Delaware, Montgomery or Philadelphia counties and it has branches in Philadelphia, Abington, Lansdale and Warminster.