Newsletters
June 2022 Update
The Impact of Predatory Lenders in Minnesota Our team reviews annual reports provided by licensed payday lenders in Minnesota to the state’s Department of Commerce every year. And every year, unsurprisingly, the data reveals a pattern of persistent indebtedness amongst borrowers. In 2021, for example, about 20,000 Minnesotan payday loan borrowers averaged nine loans each. Read more June 2022 Update
May 2022 Update
Introducing our new Director of Lending and Programs! We are thrilled to announce that Jeremiah Fuller is our new Director of Lending and Programs. Jeremiah is a community and justice advocate with ten years of programming experience. For example, he recently served as the Director of Community and Church Engagement for Safe Families For Children. Read more May 2022 Update
April 2022 Update
Let’s Build Financial Capability in Minnesota April is National Financial Capability Month! Exodus Lending is committed to strengthening Minnesotans’ financial capacity by eliminating their predatory debt and providing resources and tools that encourage individuals to reclaim control of their finances, without shame or blame. This month, we’re debunking common payday loan myths and sharing strategies Read more April 2022 Update
March 2022 Update
Our Advocacy Efforts in the Sahan Journal We’re thrilled to share this op-ed in the Sahan Journal by our executive director, Anne Leland Clark. In it, she describes how seemingly innocuous short-term loans can ensnare people in debt traps because of high-interest rates and inflexible terms. These predatory business tactics have their roots in racist Read more March 2022 Update
February 2022 Update
How We Stop the Predatory Loan Cycle Lenders providing predatory payday, auto title, or installment loans design their products to keep borrowers in a cycle of debt. And for many Minnesotans caught in the spiral, it can be hard to see a way out – until they learn about Exodus Lending. In order to reach Read more February 2022 Update
January 2022 Update
Introducing our Next Executive Director Exodus Lending is excited to announce that, effective February 7th, 2022, Anne Leland Clark will be our Executive Director. Anne is a passionate advocate for financial inclusion and economic justice. She previously worked as the Financial Capability + Learning Director at Prepare + Prosper. Prior to that, she worked at Read more January 2022 Update
December 2021 Update
A Message from Our Executive Director “Heartfelt.” “A lifesaver.” “Truly a blessing.” “A light at the end of the tunnel.” These are just some of the words participants used to describe their experience with Exodus Lending. Individuals come to us feeling desperate and trapped in debilitating payday loan debt. But after discovering a way out Read more December 2021 Update
November 2021 Update
It’s (almost) Give to the Max Day, folks. This year, Exodus Lending’s goal for Give to the Max Day is to raise $5,000 to help Minnesotans break free from the payday loan debt spiral. Can you help us reach this goal? Thanks to our generous Early Giving donors, so far, we’re 52% of the way Read more November 2021 Update
October 2021 Update
500 Minnesotans Served! Recently, Exodus Lending surpassed 500 participants enrolled all-time! For these 500 participants, our program has refinanced more than $400,000 of predatory payday, auto-title, or other loans all-time. We estimate that these efforts have saved our participants more than $1.2 million in exploitative interest and fees. While our aggregate numbers are certainly a Read more October 2021 Update
September 2021 Update
Executive Director Transition After careful consideration, I have decided to retire in early 2022 and begin the transition process to find a new Executive Director. It has been an honor to serve as the Executive Director for the last five years. When I joined Exodus Lending back in 2016, one of the first things I Read more September 2021 Update