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SkyPoint FCU Introduces Pathway Loan to Support Families During Immigration Process

·2-min read

The unsecured loan is part of SkyPoint’s community impact initiative to ‘Make Banking Simple’ in underserved communities.

SkyPoint Federal Credit Union (SkyPoint), a premier, member-owned financial institution, announces their new Pathway Loan that helps immigrant individuals and families more easily manage government expenses related to the immigration process. This unsecured loan offers a low fixed interest rate, repayment terms up to 36 months and loan amounts up to $4,000; $1,255 per immigration application. All that is required is a photo ID, and verification of address and income. Complimentary financial education and credit counseling are also included as part of the application process.

"We designed the Pathway Loan to provide a simple solution for our community members during a very important and exciting time in their lives," said Sue Hoefs, SkyPoint's Director of Lending. "We are very proud of this new program that fully supports our community impact initiatives."

SkyPoint is the only Juntos Avanzamos credit union in Maryland and Virginia, showing their deep commitment to serving Spanish-speaking people regardless of immigration status. Juntos Avanzamos credit unions council members on how to navigate the U.S. financial system and provide safe, affordable financial services. This designation also certifies that SkyPoint’s employees, website and service applications are fully bilingual.

"This new loan builds on our commitment to ‘make banking simple’," said Jim Norris, CEO of SkyPoint. "We want to alleviate the financial stress families encounter during the daunting immigration process, which, we believe, should never be cost prohibitive."

Additionally, SkyPoint is a certified Community Development Financial Institution (CDFI). As part of the federal grants SkyPoint has earned, it has committed to serving unbanked and underbanked populations within its field of membership, which often includes immigrant families. This certification enables SkyPoint to offer tailored resources and innovative programs to generate economic growth in mid to lower-income communities.

About SkyPoint Federal Credit Union (SkyPoint)

SkyPoint is one of the premier financial institutions serving Montgomery County, MD; Frederick County, MD; Arlington County, VA; Alexandria and Falls Church, VA; and the District of Columbia. We strive to offer our members a wide array of financial services, supported by the best technology, and offering great value through our member-owned structure. To learn more visit www.skypointfcu.org.

View source version on businesswire.com: https://www.businesswire.com/news/home/20210518005256/en/

Contacts

MEDIA
Liz Gaither
RMR & Associates
(202) 309-0054
(301) 230-0045 x 500
lgaither@rmr.com

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