Affordable Loans for Memphis Families

Families have been victimized by the high costs and endless cycle of being in debt to payday lenders, check cashing operations, and cash-for-title businesses.

Now there is a better way.

People can take advantage of a low-cost alternative to help meet short-term financial needs thanks to a partnership between The Black Clergy Collaborative of Memphis (BCCM) and Hope Credit Union (HOPE). Borrow and Save loans provide funds for essential expenses along with a funds that go into savings to help build a financial cushion.

The loans are supported by funds from BCCM and HOPE, and they help borrowers improve their credit history and score as the loans are repaid. Borrowers also benefit from financial education and counseling that are available through the program.

Additional Benefits from HOPE

When people get a BCCM Borrow and Save loan from HOPE, they also become a credit union member. This provides an opportunity to access other affordable products and services available from HOPE.

For families who may be farther along in their financial journey, we encourage them to become HOPE members and enjoy all the benefits the credit union offers. By joining HOPE, you are also supporting a financial cooperative that makes resources available to and helps build wealth for your neighbors and your community.

Take the First Step

Getting started is easy. Just contact a participating church and you will be connected to a representative who can complete the referral process.  You can also submit the form on this page, being sure to select a one of the churches from the list, and someone will be in touch to complete the referral process.  Also check out the program requirements to make sure your application process will go smoothly.

If you are interested in other affordable financial products and
services from HOPE, contact any of our five Greater Memphis branches.