5 small loans that make a big difference

A loan doesn’t have to be massive to be mighty. These high-impact programs have an outsize effect on members and communities.

Credit unions have always made a difference for the communities they serve through deposit offerings, loan programs, branching options, and more. Today, some are pushing beyond traditional loan products to fulfill the unmet or evolving needs of members.

The credit unions below have developed small-dollar and niche loan products that have an impact on members’ lives that far exceed the dollar amount of credit extended. From helping members become citizens to helping members become families, these cooperatives found ways to serve a distinct need in their membership.

Fast, Affordable Access To Cash

DCU’s Quick Loan, which is available for amounts ranging from $200 to $1,000, helps members cover emergency or unexpected expenses without charging excessive rates or fees. DCU introduced the loan this summer and members can access it only through the credit union’s online banking or mobile app.

 

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