Lending programs for domestic abuse survivors. (Source: Shutterstock)
Michigan State University Federal Credit Union is experimenting with small-dollar loans to help a group of people often under high stress and in unstable conditions: Survivors of domestic violence.
For the past five years, the East Lansing, Mich.-based credit union ($4.2 billion in assets, 269,344 members) has worked with a network of local domestic abuse shelters and a Michigan State researcher to find the right mix of parameters that will allow it to make loans that will help these women – and a few men – regain their independence and enhance their financial power.
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