The Jubliee Assistance Fund (JAF) was established as a sensible alternative to predatory lending. JAF is a collaborative loan program where a local church establishes an account at the The United Methodist Credit Union to provide collateralized, small, short term loans with very low interest rates for their church members who would not qualify for loans otherwise.
To qualify for participation in JAF, the borrower covenants with the church and agrees to receive financial counseling, loan monitoring and payroll deduction. The program is a way to provide your church members short term help during a financial crisis and financial management tools to assist them with long term financial stability.
For details on partnering with TUMCU to establish a fund at your church call 804-672-0200 or email email@example.com .
JAF was recently featured in an article in The Washington Post, and received the 2014 Dora Maxwell Social Responsibility/Community Involvement award.
See how JAF is helping our members- click here for video