Inside the outlying Georgia, there is good CDCU named the Good Singers Borrowing Union
Inside the outlying Georgia, there is good CDCU named the Good Singers Borrowing Union
It actually was established in 1968 from the people in around three African American places of worship. Staffed of the you to fulltime plus one in your free time employee, they offered unsecured loans, home improvement financing and you may gadgets money to help you rural African People in the us which had no most other usage of financial attributes otherwise financing. Within the 1997, Unified put on the latest CDFI Loans for many resource. Unified got on $700,100 inside the property, and you may interest in an additional $three hundred,100 for the financing from the professionals-and no other way of elevating fund so you can serve the desire. And you may a relative of your outstanding debtor “went of up to Tennessee” to discover the cash return. Good Vocalists is awarded the CDFI financing. Such an increase ‘s the envy of all banking institutions.
They are found in the people they serve, in addition to their survival is based largely for the link to that area. […]