ROCKY MOUNT, Va.—Freedom First CU has had its first resident of Franklin County, Va., to receive a car loan through a partnership between the CU’s Responsible Rides program and STEP Inc.
Responsible Rides is a new auto loan program that seeks to offer auto loans to working families and individuals who may be dealing with debt or other credit challenges and have limited borrowing options. According to the Franklin News Post, Mary Mack has become the first person in Franklin County to be able to take advantage of the program.
Freedom First created Responsible Rides in 2010 in response to what it saw as a growing need for affordable, reliable transportation among the working families served by the credit union in Roanoke, Va. The program, which incorporates financial education and vehicle maintenance training, has recently expanded to Franklin County through Freedom First's partnership with STEP, which acts as a go between for qualified Franklin County individuals and uses select dealerships in the county, the News Post reported.
The credit union said it reviews each case individually, including reviewing credit reports to help find ways to repair damaged credit.