Sunday, June 19, 2011

North Side Community FCU Helps Members Buy Cars

Here's an article about the more of the good things that North Side Community Credit Union is doing for Uptowners -- it just received a grant to help its members with lower incomes or not-great credit get auto loans or refinance their existing high-interest loans:
The $11 million credit union in Chicago received a grant from the National Credit Union Foundation to expand its Used Auto Loan Initiative. As of March, 24% of the auto loans underwritten through North Side’s new risk-based Access Auto Lending program were refinanced auto loans from other lenders and finance companies. The program is open to both low-income members and others who meet other specified criteria.
NSCFCU has a history of putting its money where its mouth is and making a difference in Uptown.  Read the entire article here, and more about the program here.  Interested in becoming a member?  You simply have to be a resident of Uptown, Edgewater, Lakeview or Rogers Park.


  1. What about people like me with mid-incomes like me who still have trouble affording a car? Am I not as deserving of a handout?

  2. Creepy Blog Guy, don't live up to your name. First, if you bothered to read the article, you'd see the credit union negotiates lower interest rates for its members, it's not "handouts." So, you have two choices if you if you really have troubling buying a car: You can join the credit union, which is available to you for a buck -- or you can keep making dickish comments on blogs about being the oppressed middle class. Your call.

  3. Yes, the credit union makes auto loans for all members and the underwriting is based on the member's credit and debt to income ratio. No handouts here! Just a more ethical process and wider access, at more affordable rates than some dealer financiers.