Low-wealth individuals and families in the Northeast side of Chicago have access to affordable car ownership thanks to North Side Community Federal Credit Union. North Side Community FCU received a grant from the National Credit Union Foundation (NCUF) to expand their “Used Auto Loan Initiative,” a successful, sustainable auto loan program for low-wealth individuals historically untargeted by credit unions in the community.
“The purchase of an affordable, quality used car has become more important as jobs become more decentralized,” said Lois Kitsch, NCUF National Program Director. “Programs like North Side Community FCU’s are essential to helping low-wealth families access the expanded job and housing opportunities that a car can help provide.”
“I wanted to finance with North Side Community Federal Credit Union because I knew that with my lengthy history as a member, my good credit and their superb customer service, they would offer me a great interest rate with excellent service,” said a credit union member since 2004 whose first loan was an auto loan under the North Side Community FCU’s Access Auto Lending program. The member’s 2009 Kia Spectra was bought through North Side’s partner, Enterprise Car Sales.
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