X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

NEW BERLIN, Wis. – Low-income families who need financial help with getting transportation have a new resource to turn to. Landmark Credit Union and Waukesha State Bank have signed on with the “Ways to Work” program, a national effort already in 25 states that provides low-interest auto loans. Qualified applicants can borrow up to $4,000 to buy a used car. The loans generally are two-year loans and the interest rate is about 8%, according to the program’s information. The financial institutions originate the loans, disburse the money and collect the payments. Local agencies connect the applicant to the financial institution. In Milwaukee, the agency is the Milwaukee County Social Development Commission, which works with Landmark. In Waukesha, it’s La Casa de Esperanza, which works with Waukesha State Bank. So far, $1 billion Landmark CU has approved 19 loans since it started with Ways to Work program in April, said Quincy Scaggs, the Social Development Commission’s loan coordinator. Waukesha State Bank has not yet issued any loans, but expects to soon, said Rafael Santiago, a bank vice president.

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?

Credit Union Times

Join Credit Union Times

Don’t miss crucial strategic and tactical information necessary to run your institution and better serve your members. Join Credit Union Times now!

  • Free unlimited access to Credit Union Times' trusted and independent team of experts for extensive industry news, conference coverage, people features, statistical analysis, and regulation and technology updates.
  • Exclusive discounts on ALM and Credit Union Times events.
  • Access to other award-winning ALM websites including TreasuryandRisk.com and Law.com.

Already have an account? Sign In Now
Join Credit Union Times

Copyright © 2021 ALM Media Properties, LLC. All Rights Reserved.