For many low wealth wage earners, bridging the gap between paychecks and the cost of living is a challenge.
The Federation's Borrow and Save® small dollar loan is designed to help borrowers break the cycle of borrowing from high-cost alternative lenders and move towards healthier savings habits. A required savings component builds assets and credit.
Fourteen credit unions generated more than 3,100 Borrow and Save® loans for over $2.9 million in lending for the credit union and $900,000 in savings for borrowers in an 18 month test by Filene. Another significant benefit of Borrow and Save® - it successfully builds credit for low-income borrowers with damaged or no credit history.
Join us to learn the results of the Filene Research Incubator and how to implement a Borrow and Save® program at your credit union.
Introducing Borrow and Save, a Better Small Dollar Loan
Day: Thursday, April 28, 2016 Time: 3:00 - 4:00 pm
Presenters:
Pamela Owens, Vice President of Programs, Federation
Corlinda Wooden, Project Manager, Filene Research Institute
Dave Prosser, Senior Vice President, Freedom First Credit Union
Tammie Hoy, President, Together Consulting Inc.
RSVP to this event today by clicking on the RSVP button above or go to https://attendee.gotowebinar.com/register/1390395499260633090
Borrow and Save® is a registered trademark of the National Federation of Community Development Credit Unions.