From inside the outlying Georgia, discover an excellent CDCU named the latest Harmonious Singers Borrowing from the bank Relationship

From inside the outlying Georgia, discover an excellent CDCU named the latest Harmonious Singers Borrowing from the bank Relationship
It was created in 1968 of the members of around three African Western churches. Staffed by the one to full-time and one part time worker, it offered signature loans, home improvement money and you can gadgets finance to outlying African Americans exactly who didn’t come with most other access to economic properties or resource. Into the 1997, Unified put on the fresh new CDFI Finance for many financing. Good got on the $700,100000 for the assets, and you may interest in an additional $3 hundred,100000 during the funds from the members-without almost every other way of elevating financing in order to serve the desire. And you may a member of family of delinquent debtor “went all the way to Tennessee” to find the money back. Good Singers is actually awarded the brand new CDFI investment. Continue Reading