ALEXANDRIA, Va. – The Pentagon FCU Foundation received a $1,500 donation from the Armed Forces Financial Network (AFFN) to go towards the foundation's work in combating payday lending abuses of members of the U.S. armed forces. The grant specifically is earmarked for the Asset Recovery Kit (ARK) initiative that combines low-cost, short-term loans with credit counseling as alternatives to payday loans. Too many military personnel and their families find themselves not making their hard-earned pay stretch from month-to-month resulting in borrowing from payday predators, said PFCU Foundation President Roderick Mitchell, adding that ARK was established to help assist and educate members of the U.S. armed forces. Programs like ARK exemplify our commitment to our military community, he said.
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