So far, credit unions participating in Filene Research Institute's accessible financial services incubator will test products to help lower income credit union members obtain auto loans and save money as they borrow money.
Working with a $700,000 grant from the Ford Foundation, Filene will distribute the products among credit unions who agree to test them with their members for 18 months beginning in January.
The goal is develop the products for use in mainstream financial institutions, both credit unions and banks, according to Kate Lawton, brand manager with the institute in Madison, Wis.
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