Assisting vulnerable populations
Point West Credit Union provides emergency loans for undocumented immigrants.
Providing undocumented immigrants with emergency loans is a risk, but it's one Point West Credit Union is willing to take, says Steve Pagenstecher, chief operations officer.
Some of the people who have been hit hardest by the coronavirus (COVID-19) pandemic are also those who have the least amount of resources and funds available to them.
Point West Credit Union in Portland, Ore., is doing its part to assist undocumented immigrants through an emergency loan program.
The $94 million asset credit union has teamed up with the Northwest Credit Union Foundation, $120 million asset Trailhead Credit Union and $252 million asset Consolidated Community Credit Union, both in Portland, Ore., to offer emergency loans for those affected by the pandemic, including undocumented immigrants in the community.
Undocumented immigrants don’t have access to governmental support systems—stimulus checks, unemployment benefits, or Paycheck Protection Program funds—and often work in the hardest hit sectors of the economy such as home care, maintenance, hospitality, or food service.
continue reading »
