New Hampshire Credit Union League Partners with More Than Wheels
The New Hampshire Credit Union League held a membership meeting on March 10 to announce its newest Community Outreach initiative, a partnership with “More Than Wheels,” formerly “Bonnie CLAC.” More Than Wheels is an award winning, NH based, not for profit service organization that has helped 1500 low and moderate income families get the great deal on reliable fuel efficient cars as well as affordable financing.
The typical More Than Wheels client is a lower income single parent with young children and some credit issues. John Young, President of New Hampshire Federal Credit Union and Chairman of the NHCUL’s Community Outreach Committee, remarked, “Sadly consumers in this situation are often victimized by predatory “sign and drive” auto dealers who sell overpriced, badly worn vehicles for too much money and then finance them at exorbitant interest rates. These sorts of vehicles usually end up becoming a financial bottomless fit instead of the reliable transportation that these families need.”
More Than Wheels has a time tested approach to providing reliable, affordable and safe transportation that addresses all of these challenges. Debby Miller, the Executive Director of More Than Wheels, New Hampshire outlined how the organization works saying, “We work with the family to prepare them to be a responsible borrower through financial education. At the same time we take the necessary steps to help the borrower improve their credit score. Then we negotiate a great price on a sensible and reliable car from one of our outstanding partner auto dealers . Finally they package and present the loan to a responsible lender who offers a fair market rate.” The organization currently works with three NH credit unions: Northeast Credit Union, St. Mary’s Bank and Woodlands Credit Union.
The League’s Community Outreach Committee identified this organization during a series of meetings in 2010. Rob Kimmett Senior Vice President, Marketing for the New Hampshire Credit Union Leagues described More Than Wheels as a “perfect partner for a statewide community outreach project because its goals were so closely in sync with those of the state’s credit unions. Affordable, honest loans, financial education and building a pathway to prosperity are all key credit union benefits.”
Credit unions throughout the state will be working with the New Hampshire Credit Union League and More Than Wheels to make sure that New Hampshire consumers who need some help getting safe, reliable and affordable transportation are aware of the help that More than Wheels can offer. They communicate this message using their websites and newsletters as well as in one on one conversation with consumers.
Consumer who would like more information about More Than Wheels are encouraged to call 1-866-455-2522 or visit their website http://www.morethanwheels.org