3500 West Parmer Lane
Austin, Texas 78727
(512) 218-8110 office | (512) 218-8190 fax
UCC has been concerned by the issues around payday lending. A group has been seeking to create a UCC alternative lending program. Payday lending refers to the practice of giving people small short-term loans at very high interest rates – rates that often end up as high as 500%-1000%.
After listening to our ideas and talking with us, Amplify Credit Union has agreed to be the back-end lender for our non-profit CSO targeted at offering community-based emergency loans. Thank you to Kendall Garrison and Andrew Miller for working with us and finding a way to create this exciting new possibility!
We have a new website for CUFL: FairLendingCommunities.org
This is a brochure-type site, primarily to give an overview of the program to potential partners and donors. Things like meeting notes and day-to-day updates will continue to be on this site.
Thank you for all your support of this exciting possibility!
The summer has seen us talking through teh idea with other groups, as well as solidification of our back-end support by Amplify. We are still working to find our front-end partner, and we need an additional board members to submit the paperwork for our non-profit.
See the attached notes for more details.
| File | Description | File size |
|---|---|---|
 2012_07_16_CUFL_Meeting_Notes.pdf | 67 Kb |
Communities United for Fair Lending is focused primarily on the paperwork around getting the non-profit up and going. The April meeting was reviewing and putting specifics on a draft template. The notes about that are included below. The bylaws will be posted once they are voted on.
All of our meetings are open - we would love to have you come join us as we imagine exciting new possibilities to share God's vision of reconciliation and justice for the world!
| File | Description | File size |
|---|---|---|
| 04_17_2012_CUFL Meeting Notes.pdf | 7 Kb |
The primary item on the agenda for the meeting was to arrive at a name. The name we chose is Communities United for Fair Lending.
The next step is to develop by-laws and apply for non-profit status at the state and local levels.
The notes from the meeting are attached.
| File | Description | File size |
|---|---|---|
| 03_20_2012_Alternative Lending Program Notes.pdf | 6 Kb |
The Alternative Lending Program met to discuss our current progress. The big revelation of the meeting was development of a pre-qualification process, which will make the loans much more attractive in terms of ease & convenience, reduce the burden on the program volunteers, and help in terms of publicity and awareness by attaching program initiation to a community event rather than individual emergencies. Our next steps involve creation of a new non-profit and securing the small amount of funding we need (neither of which is as daunting as getting the back-end lending agreement was). Notes are attached.
| File | Description | File size |
|---|---|---|
 Alternative Lending Program Meeting Notes - Feb, 2012.doc | 30 Kb |
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