In the News - New York Times Article Highlights Borrow & Save

February 24, 2016

The New York Times highlighted a Freedom First innovative loan program in their article, "Credit Unions Turn Borrowers into Savers." Announcing the findings of a study conducted by the Filene Research Institute, the article highlights a few of the successful programs that were piloted by twelve credit unions.

Freedom First's Borrow & Save program, launched in 2012, allows members to borrow up to $5,000, and agree to set aside half the money in a savings account until the balance is paid. This innovative loan helps borrowers establish a regular payment habit while also encouraging them to add to their savings. 

Read the full New York Times article.