Verity Credit Union Receives $383K Grant to Fight Predatory Lending and Empower Underserved Communities

Verity Credit Union is becoming a Community Development Financial Institution (CDFI) to better support members with low to moderate incomes. The credit union was recently awarded $383,223 Small Dollar Loan grant from the U.S. Treasury to combat predatory lending. 

This grant allows Verity to provide essential financial services to unbanked and underbanked communities, offering alternatives to high-cost loans and helping individuals build credit. Verity will utilize the grant to develop a small-dollar loan program, offering unsecured loans up to $2,500 with no prepayment penalty and the opportunity to repay in installments.

CEO Tonita Webb expressed excitement over the opportunity to drive financial stability and support members with low to moderate incomes. Learn how Verity is transforming lives through financial empowerment!

Read the full article and learn how their customers will receive the support here.