Community Plus FCU Gets $450,000 CDFI Funds For Credit-Repair Auto Loans

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RANTOUL, Ill. – Community Plus FCU has received a $450,000 Community Development Financial Institutions loan and plans to use it to make auto and “credit-builder” loans in Champaign, Ford and Piatt counties.

Most of the $450,000 has been targeted for auto loans that can help low-income people get to and from work.

The remainder has been targeted for credit-builder loans – typically, $500 to $1,000 loans that help people build up their creditworthiness so they can eventually qualify for larger loans.

 

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