The Federation helps credit unions to be the safe and affordable alternatives to high-cost fringe service providers in their communities from payday lenders, to rent-to-own stores, to pawn shops, to automobile title and subprime mortgage lenders. The Federation supports CDCUs through technical assistance, consulting services, investments such as Predatory Relief and Intervention Deposits (PRIDEs), and programs like Borrow and Save.
Borrow & Save
For many working poor, bridging the gap between generally declining incomes and the ever-higher cost of living is a challenge often met by increasing consumer debt, typically through credit cards and alternative lenders.
The Federation’s Borrow & Save program is designed to help borrowers break the continuous cycle of borrowing from high-cost alternative lenders and move towards healthier savings habits.