Having poor credit or no credit history at all can have ripple effects for a person who is already in a precarious financial situation. A person's credit history tells a story to lenders, landlords, and service providers; therefore, a poor credit history can make it difficult to find affordable housing, buy a home, or even procure common goods and services such as a cellphone, furniture, or car insurance.
Molly Barackman-Eder, Manager, Financial Capability
The winter holidays and the start of school are times when expenses can suddenly spike. Many low- to moderate-income families are unable to cover them, turning instead to expensive, predatory payday, auto-title or similar loans. Clearly, a safe alternative is needed.