Random Collisions are forums for the random collision of ideas. Jane Jacobs in The Economy of Cities offered the random collision of ideas as an explanation for the success of cities such as New York.
Wednesday, June 6, 2018 & Thursday, June 7, 2018
It’s a sad truth of American life that the poorer you are the more you pay for banking.
All churches want to save their parishioners’ souls. The Church of God Credit Union wants to save their money, too.
“Sometimes people of the congregation needed financial help as well as spiritual help,” explains LeAne Cloud, president of the Wichita, Kan.-based institution.
The Church of God Credit Union is one of a growing number of faith-based credit unions around the country, created to help members and people in need. There are roughly 500 around the nation, set up in church basements and donated office space, and staffed mostly by volunteers. Most, but not all, are affiliated with churches in low-income neighborhoods.
Faith-based credit unions are run independently of their parent churches, however, and are federally chartered and monitored just like thousands of other, more traditional, credit unions. As a group, they have more than $2 billion in assets.
They represent a variety of faiths and denominations, including Protestant, Catholic and Muslim, officials with the National Credit Union Administration say.