credit unions
Extending a financial lifeline, Episcopal Church credit union launches in the Bronx
By Meagan Saliashvili — May 19, 2023
NEW YORK (RNS) — 'Most of us are not wealthy,' said one local resident. 'It’s impossible for us to get a loan from the commercial banks. So the only opportunity is to go to the loan sharks,' where the interest charged is 'overwhelming,' she said.
Churches use political pressure, small-dollar loans to fight predatory payday lending
By Mark A. Kellner — November 13, 2018
(RNS) — Congregations are helping people avoid — or dig out from — exorbitant debt obligations by providing an alternative.
Church-run credit unions keep the faith despite challenges
By Katelyn Ferral — October 30, 2018
(RNS) — They are a distinct dimension of the credit union industry, offering a consumer-focused alternative to payday lenders and impersonal larger banks — along with shared religious beliefs.
Following scandal, Archbishop Justin Welby offers to open credit unions
By Trevor Grundy — July 26, 2013
(RNS) Archbishop Justin Welby has offered to open credit unions, which charge much lower annual percentage rates than Wonga, in as many as 16,000 churches.
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