first_img ShareShareSharePrintMailGooglePinterestDiggRedditStumbleuponDeliciousBufferTumblr A decade ago, Firefly Federal Credit Union ($1.3B, Burnsville, MN) struggled with what to say when it fielded applications from prospective members with poor credit.“If we couldn’t give someone a loan, we’d say, ‘Sorry, we are unable to do this,’” says Geoff Bullock, community engagement and education specialist at Firefly. “That was it.”The Minnesota credit union didn’t offer financial education. It didn’t have financial literacy experts, and asking staff to answer potentially life-altering questions to people in need of assistance was a tall order. But rather than continue to turn away potential members, Firefly instead turned to a trusted partner.Lutheran Social Service (LSS) provided tax prep services to Firefly members, and in 2007, the credit union became one of the first partners in LSS’s Financial Choice program. Since then, Firefly has referred nearly 200 members to the program’s qualified financial counselors. In total, these members have collectively paid off more than $3 million in debt, according to the credit union. continue reading »last_img

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