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Shell FCU provides fresh start in troubled times
In August 2007, Shell Federal Credit Union launched a community credit builder loan promotion entitled “You’re Worth a Grand” in an effort to help those in need and who may not be eligible for assistance at other financial institutions.
The loan was for $1,000 and qualifications were simple and direct: be a member (live, work or worship in Harris County), have a steady job for prior six months, direct deposit, and elect the loan payment transferred via auto transfer from your Shell FCU checking account. Participants were also invited to credit basic classes offered by the Credit Union.
“Our goal was to provide an alternative to payday loans to our community and help educate on the importance of building and maintaining healthy credit,” CEO Jose Rodriguez said. “Shell FCU is committed to our community and reaching those struggling to survive in these hard times.”
Results as of Aug. 1 show the program was a huge success.
A total of 636 loans were approved and funded and out of those, 426 have paid on time, every time. Part of the program also stated if the participant made every payment according to the 12-month term, they’d be eligible for a $1,500 loan in September 2008.
Shell Federal Credit Union began offering “You’re Worth a Grand” again starting Aug. 1.
For specific details, contact Shell FCU directly at 713-844-1100.
The loan was for $1,000 and qualifications were simple and direct: be a member (live, work or worship in Harris County), have a steady job for prior six months, direct deposit, and elect the loan payment transferred via auto transfer from your Shell FCU checking account. Participants were also invited to credit basic classes offered by the Credit Union.
“Our goal was to provide an alternative to payday loans to our community and help educate on the importance of building and maintaining healthy credit,” CEO Jose Rodriguez said. “Shell FCU is committed to our community and reaching those struggling to survive in these hard times.”
Results as of Aug. 1 show the program was a huge success.
A total of 636 loans were approved and funded and out of those, 426 have paid on time, every time. Part of the program also stated if the participant made every payment according to the 12-month term, they’d be eligible for a $1,500 loan in September 2008.
Shell Federal Credit Union began offering “You’re Worth a Grand” again starting Aug. 1.
For specific details, contact Shell FCU directly at 713-844-1100.
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