Opening our first Georgia branch in Atlanta in 2024 was exciting for all of us at Self-Help. Located in the heart of Atlanta's historic West End neighborhood, the branch would forward Self-Help’s mission by providing responsible financial products to the surrounding area and beyond. Within days of opening, that mission was already making a difference in the life of 80-year-old Leola Stewart.
Ms. Stewart lives blocks from the new branch in an affordable senior apartment complex. On a fixed Social Security income, she supports herself and her adult son, who has been paralyzed from the waist down for three years due to Guillain-Barré syndrome. In early 2024, financial necessity drove her to take out two high-interest loans:
- $600 loan at 490% interest, requiring payments of $293.24 monthly for 6 months
- $591 loan at 100% interest, requiring payments of $96 monthly for 9 months
By September 2024, Stewart owed almost $200 more than she had borrowed to the first lender, and only $100 less than she had borrowed to the second. The loan terms she had agreed to seemed to be impossible to pay off and she felt herself sliding farther into debt.
Ms. Stewart walked into the branch shortly after we opened. She was one of our first new members – but before joining, she asked if we could help with her loan situation. Self-Help was able to consolidate her two loans and drop her monthly payment to less than $100, saving her nearly $300 each month. That’s a lot of money for anybody, but for a senior on a fixed income, it’s especially impactful.
The West End location was no accident. Self-Help carefully selects branch locations in communities where our services can have the greatest impact. Known for its rich cultural diversity and strong community spirit, West End is one of Atlanta's most historic neighborhoods.
Ms. Stewart now visits the branch almost daily. For her, Self-Help Credit Union isn't just a financial institution—it's a neighbor that stepped in when she needed an ally.
