Group trying to make loans more accessible to people with low in - 21 News Now, More Local News for Youngstown, Ohio -

Group trying to make loans more accessible to people with low incomes

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YOUNGSTOWN, Ohio - A group is hoping to make loans more accessible by opening what they're calling a "Faith Credit Union" in Youngstown.

Monday evening, city residents were invited to a town-hall forum to learn more about the effort.

Rev. Henry McNeil of Elizabeth Missionary Baptist Church told 21 News efforts have been underway for several years to try and set-up the credit union in the city.

The credit union would provide low income people, not only checking accounts and loans, but financial lessons and advice.

"Through the financial literacy training there would be less people losing money because they didn't make a will, for an instance." said McNeil. "Last year some $568 billion was lost in low income neighborhoods because they simply didn't say 'I Bequeath.'"

McNeil said the group spear-heading the project has received about $10-thousand in commitments towards their effort, but they still need to raise an additional $140-thousand to be eligible for $1.5 million in start-up money, being offered by the Ohio Commerce Department and the Ohio Credit Union League.

For more information, visit the groups web site.

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