Redstone Federal Credit Union

Holiday 2019 Newsletter

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4 | r e d f c u.o r g The Society of St. Vincent de Paul has assisted those in need all around the world since 1843. Food, clothing and help with medical bills, rent and utilities are provided to those who have fallen on hard times. Local volunteers often find that payday or title loans play a large part in draining the household's available cash. "So many people are just relieved to get that initial payday loan," says Morgan Jellett, National Council Vice President, Southeast Region, Society of St. Vincent de Paul. "ey have no idea how quickly the total loan amount grows when they only make the minimum payment. We have one family who has paid more than 20 times the original loan amount, just by doing what they thought was right – making the payments. rough our partnership with Redstone, they soon discover a way out of the debt cycle," Jellett said. C O M M U N I T Y PA R T N E R S P O T L I G H T THE PAYDAY LENDING CYCLE: Society of St. Vincent de Paul Partners with Redstone to Help People Break Free Morgan Jellett, with the Society of St. Vincent de Paul, next to food donations from St. John the Baptist Catholic Church. Volunteers distribute groceries, financial assistance and other services to those in need.

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