A new credit union service organization aims to narrow the “justice gap” by helping consumers find access to affordable legal representation.
The justice gap is defined by the Legal Services Corporation as the difference between the civil legal needs of low-income Americans and the resources available to meet those needs.
Known as Justice for Me, the CUSO is the result of a partnership between Texas Dow Employees Credit Union, a $3.2 billion-asset institution based in Lake Jackson, Texas, and JFM, a fintech headquartered in the Austin-San Antonio corridor.
According to JFM, the CUSO will assist those who live in the “justice gap” with payment plans for their legal fees. The service carries no upfront fees, nor does it place fee restrictions on the attorney. Clients may use any attorney in a provider network or have their existing lawyer join the network.
The company said it will directly pay invoices from attorneys within 48 hours. Clients then are given 18-month payment terms, including an interest-free option.
Justice for Me was recently nominated as the National Association of Credit Union Service Organizations’ 2019 CUSO of the year.
TDECU declined to specify the exact dollar amount of its investment in Justice For Me, but through a spokesperson said it would be making an additional investment in the future.
“Our partnership with JFM and their unique business model gives credit union members access to quality legal representation they were initially prevented from accessing,” Todd Lucas, TDECU’s vice president of business and commercial services, said in a statement. “We are very excited to participate in a $200 billion marketplace that has never seen a solution like this.”
“We are thrilled to have a partner like TDECU this early in our growth,” said Joseph Cooper, chief executive officer of Justice for Me. “Because of TDECU’s support and vision, we are able to focus on developing our network and technology while helping TDECU increase their lending footprint and helping their members.”
