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Tuesday, November 07, 2006

Community Development Credit Unions & Usury

I written previously about the problem of Usury and Pay Day Loans. As I've researched the matter, the answer I'm seeking seems to be in the creation of a Community Development Credit Union for which there are several models.

Regarding attacking the Pay Day Loan Problem, here are how several credit unions have done that in Illinois, Louisiana, North Carolina, and Ohio. The USA today article I referred to last time mentioned the North Carolina model.

I also found an interesting article calle Double Jeopardy: Why The Poor Pay More

The question is how to dovetail this with the diaconal ministry of the church and the proclamation of Christ's Lordship here in Lawrence County?

And of course what to do next...