Hoping to craft alternative to predatory payday-lending practices, some churches are offering members low-interest loans.
"The program is called the Jubilee Assistance Fund. In 7 1/2 years, it has helped parishioners of the United Methodist Church secure 14 loans – from $500 to $8,800 – according to Carol Mathis, chief executive of the credit union. Similar initiatives run by faith-based organizations across the country are shifting the way churches approach charity. These programs offer parishioners an alternative to commercial lending agencies, which often charge triple-digit annualized interest rates." -- Rebecca Robbins, the Washington Post