Greater Iowa Credit Union celebrates the success of small-dollar loan program
AMES , IOWA (October 30, 2023) — Greater Iowa Credit Union (GICU) celebrates the success of its small-dollar loan in partnership with Iowa State University Extension and Outreach. The partnership is part of the Financial Wellness at Work program that provides financial education, one-on-one financial coaching, and financial security resources, such as the small-dollar loan program, to Iowa State University faculty and staff. This program, which was introduced last year, has seen success in providing ISU employees with accessible financial solutions while protecting them from predatory lenders.
“We were excited to begin offering this program,” said Scott Zahnle, CEO of Greater Iowa Credit Union. “We saw a need for a fair and affordable lending option that allows people to better their lives without incurring financial hardships. We’re seeing borrowers use the money for everything from car repairs to dental procedures. This program exemplifies our commitment to supporting the financial well-being of our community.”
The Wellness at Work Small-Dollar Loan program was developed with the well-being of Iowa State University employees in mind, offering a responsible and supportive avenue for addressing their immediate financial needs. The Financial Wellness at Work program is made possible, in part, by a grant from the FINRA Investor Education Foundation through a partnership with United Way Worldwide.
About Greater Iowa Credit Union (GICU)
Headquartered in Ames, Iowa, Greater Iowa Credit Union is a not-for-profit financial cooperative offering a full range of financial services to people in communities throughout Iowa. The credit union was founded in 1932 by Iowa State University buildings and grounds crew employees and has since grown to $650 million in assets and serves 36,000 members worldwide. They are committed to advancing positive change and financial empowerment in a socially conscious way to promote financial inclusion. For more information, visit GICU.org.
About Iowa State University Extension and Outreach
Iowa State University Extension and Outreach builds a strong Iowa by engaging all Iowans in research, education, and extension experiences to address current and emerging real-life challenges.