SkyPoint FCU introduces the Pathway loan to assist immigrant communities
GERMANTOWN, MD (March 23, 2021) —
As part of its community impact initiatives, SkyPoint Federal Credit Union of Germantown, Md., has introduced a new loan to help immigrant families more easily manage government expenses related to the immigration process. Launched in January 2021, the Pathway Loan is an exclusive, unsecured loan that offers a fixed interest rate, repayment terms up to 36 months and loan amounts up
to $4,000.
“We’re really proud of this new program and are very excited to announce it to our communities,” says Sue Hoefs, SkyPoint’s director of lending. “We designed the Pathway Loan to be a simple solution to assist our community members during a very important and exciting time in their lives.”
SkyPoint Federal Credit Union is a certified Community Development Financial Institution (CDFI). As part of the federal grants SkyPoint has earned, the credit union has committed to serving unbanked and underbanked populations within its field of membership, which immigrant families are often part of.
“This also underscores our We Make Banking Simple philosophy. The immigration process is daunting enough, and it should never be the case that it is cost prohibitive. This loan makes it simple to alleviate financial stresses related to those costs,” adds Hoefs. SkyPoint has begun its full marketing initiative to make The Pathway Loan known in the communities the credit union serves. The credit union expects to start processing loans this month.
For more information about SkyPoint, visit www.skypointfcu.com.
About SkyPoint Federal Credit Union
A community-based, not-for-profit, financial institution, based in Montgomery County, Maryland, SkyPoint serves the greater Washington D.C. metro region and those who want to partner with a financial institution who makes banking simple and accessible. A designated Community Development Financial Institution (CDFI) credit union, SkyPoint helps our members, partners, and the communities we serve, gain access to the investment capital and financial services needed to prosper, increase economic independence, and drive overall sustainable economic growth and community development. For over 50 years, SkyPoint has served as a strategic and reliable partner to both public and private organizations that directly support underserved and unbanked communities, who want to work together to elevate the community and one another. To learn more about SkyPoint, visit www.skypointfcu.com.
