BATON ROUGE, La. – Southern Teachers & Parents FCU will provide down payment grants up to $1,000 each to low-income members who qualify for used car loans under a new pilot program.
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Under the program, funded by a grant from the National CU Foundation, members must complete a series of workshops on car buying, financial planning, car maintenance and auto financing.
The program’s motto is: “Credit unions against junk driving. We won’t let our members drive junk.”
Nonmembers may attend the workshops, but must become a member of the credit union to be eligible for the down payment incentive.
