Newsletters
February 2019 Update
Payday Lending Reform in Minnesota On Tuesday, February 26, state legislators will hold a hearing on payday lending legislation in Minnesota, including a push for a 36% effective interest rate cap. Here is HF 1501 as introduced today↗ (opens in a new tab), regulating interest rates for consumer short-term and small loans. Exodus Lending staff and Read more February 2019 Update
January 2019 Update
Our Story: “Exodus Lending Strengthens Communities” We are honored to be a Mary’s Pence Grantee, and we love the video they’ve created highlighting our program. Hear from our executive director, Sara Nelson-Pallmeyer, about how Exodus Lending works to help Minnesotans break free from payday loan debt. “We are improving lives and creating social change by taking Read more January 2019 Update
100 Enrolled in 2018!
We’ve reached 100 program enrollments in 2018! We are excited to share the news that Exodus Lending has enrolled 100 program participants in 2018 – that’s nearly double our number from last year and equivalent to two years of past enrollments! For these participants, we have refinanced more than $71,000 of payday loan debt and Read more 100 Enrolled in 2018!
December 2018 Update
Thank You! Living paycheck-to-paycheck, Jan* knew all too well that hitting unexpected bumps in the road could quickly detour her financial journey. Jan worked hard every day to support her family, and then her car broke down. Her car was her lifeline – without it, her job security, housing stability, and sense of well-being were Read more December 2018 Update
November 2018 Update
Give to the Max Day With Give to the Max Day a week away, we celebrate the season with our participant stories, as Melissa and Isabella* highlight the importance of our work – and the reasons why we need your help to reach our $12,000 goal. Melissa’s Story on Minnesota Public Radio (MPR) As Read more November 2018 Update
October 2018 Update
Trick or Treat! Is there anything scarier than the almost 400% average APR on payday loans in the U.S.? We can think of something… 12,000%. Yeah, that’s not a typo. 12,000%. That’s how much one recently enrolled participant was paying on an online payday loan. According to the terms, this borrower – who initially took Read more October 2018 Update
September 2018 Update
Over 100 program graduates! This month, we surpassed 100 program graduates of Exodus Lending! That’s 100 of our neighbors who no longer dread payday, watching their hard-earned check evaporate into the pockets of predatory lenders. Instead, that’s 100 people who can breathe easier, knowing their payday debt is gone, and they can focus on their Read more September 2018 Update
August 2018 Update
Welcome, Anna and Anika! We are delighted to announce the addition of Anna and Anika to our team at Exodus Lending! Anna will be working directly with our program participants as our Program Coordinator, and Anika is serving as our Outreach and Fundraising VISTA for next year. Welcome to the team! Anna graduated from Augsburg Read more August 2018 Update
July 2018 Update
Exodus Lending is Hiring! Exodus Lending is looking for someone who is passionate about helping people get out from under the payday loan debt trap. We’re looking to hire a program coordinator to manage and take part in all participant-facing activities of the organization, including outreach, enrollment, and participant engagement. Review the full job description Read more July 2018 Update
June 2018 Update
Exodus Lending in the News! Our executive director, Sara Nelson-Pallmeyer, spent this past Monday, June 4th, in Moorhead. She, along with co-hosts Mayor Del Rae Williams, Minnesota House Rep. Ben Lien and city council member Heidi Durand, held a meeting with church leaders, nonprofits, county agencies and financial institution representatives to talk about the payday Read more June 2018 Update