Credit unions live by the philosophy of "People Helping People,” but do they really reach out and help the low- income population, specifically as it relates to mortgages?
One program offers payday loan alternatives through in partnership with employee sponsor groups.
DETROIT – Credit unions considering how best to serve very low income communities may need to look into the details of those members' incomes and financial lives, researchers reported.
Read what a test credit union has to say about a new non-prime auto loan pilot program.
The loan is one of five products in Filene's accessible financial services incubator.
The Filene Research Institute hopes a new set of products will improve the way credit unions and banks help low-income consumers manage their finances.
Test products include auto loan help, loans to savings programs, small loans program.
NCUF testing program to help credit unions make more auto loans to lower income members.
Ford Foundation pledge of $700,000 to fund launch of financial services incubator.
Year long campaign will focus on cooperatives of many different types.