Archive Links

Consumer Archive
CU System Archive
Market Archive
Products Archive
Washington Archive
150x172_CUEffect.jpg
Contacts
LISA MCCUEVICE PRESIDENT OF COMMUNICATIONS
EDITOR-IN-CHIEF
MICHELLE WILLITSManaging Editor
RON JOOSSASSISTANT EDITOR
ALEX MCVEIGHSTAFF NEWSWRITER
TOM SAKASHSTAFF NEWSWRITER

News Now

CU System
CU helps members with heating bills
FALL RIVER, Mass. (1/3/08)--Fall River Municipal CU is helping its members pay their oil heating bills with a new loan program. The credit union is offering up to $1,000 in loan assistance for heating bills. The loan period is for 10 months at a rate of 5.5%. The program seeks to help members spread their heating bills into smaller payments (Standard-Times Jan. 2). Lisa Reid, consumer lending manager, told the Standard-Times a few members have taken out the loans. She expects the number of loans will increase. Though the program is scheduled to finish at the end of January, it could be extended if heating costs remain high, Reid said. Bruce Morell, executive director of People Acting in Community Endeavors, told the newspaper that Fall River’s program is a “godsend” for low-income residents. Many low-income residents can’t afford $800 monthly payments for oil, and have stopped paying rent or buying food and medicine, he said. Estimated winter heating costs for houses in the Northeast will be $1,879, a 25% increase from last year, the newspaper stated. Fall River Municipal CU has $24.7 million in assets.
Other Resources

RSS





print
News Now LiveWire
What role are #creditunions playing in @gatesfoundation's 2030 vision of financial services? Read #NewsNow Monday
9 hours ago
Consumers fear inaccurate info lingers on credit reports, says @FTC study Read @CUNA's News Now: http://t.co/RzNLMnaROO
11 hours ago
@PCUA has formed a @LinkedIn networking group for former bankers turned #creditunion employees.
11 hours ago
.@politico reports Democrats haven't picked the city yet, but their 2016 convention will be held the week of July 25.
11 hours ago
.@cuna, @DCUC_HQ urge @CFPB to exempt #CUs from changes to Military Lending Act rules cuz CUs aren't part of the targeted problem. NN Monday
13 hours ago