News
Stories and news from Exodus Lending and the financial industry
CAP Agencies and Other Financial Resources
Have you ever heard of Community Action Partnership (CAP) or a Community Action Agency (CAA)? Community Action Partnership is a national nonprofit that provides technical assistance, training, and other resources to CAAs, nonprofits, and public groups. In other words, CAP connects local communities and individual citizens to financial resources that meet their needs. There are Read more CAP Agencies and Other Financial Resources
May 2021 Update
Call to Action: Contact your House Member! As the conference committee meetings continue at the Capitol, now is the time to contact your House member. Share your support of establishing a 36% annual percentage rate ceiling on payday loans, as outlined in provisions in the House Omnibus Commerce Policy and Finance Bill (HF 1031, Article Read more May 2021 Update
Affordable Hobbies
We regularly discuss budgeting in terms of needs and wants, with a primary focus on prioritizing “needs.” However, this month, we want to highlight how having space for your “wants,” like hobbies, is still essential. While they seem like just fun and games, research shows that hobbies can have mental health benefits such as reducing Read more Affordable Hobbies
April 2021 Update
Life in the Debt Trap Reese* first took out a payday loan to stay on top of the bills in her life. Unfortunately, the “short-term” loan quickly spiraled into a debt trap. That’s because Reese couldn’t afford to pay the entire principal and interest of her loan in one payment. Instead, she paid a fee Read more April 2021 Update
Reese’s Story
Reese*, a mother of two, first took out a payday loan to stay on top of her bills while waiting for her first paycheck from her new job. At the time, Reese felt that her credit wasn’t high enough to qualify for a traditional personal loan and believed taking out a payday loan was her Read more Reese’s Story
Rent
IMPORTANT PROGRAM UPDATE FOR CURRENT PARTICIPANTS Before we begin discussing managing rent, Exodus Lending is pleased to launch a new online payment platform. All current program participants should have received an email from us with instructions on how to create a profile with the new Client Portal by March 31st, 2021. Please contact us if Read more Rent
March 2021 Update
Did you hear us on MPR News last week? In case you missed it, our executive director, Sara Nelson-Pallmeyer, joined Chris Farrell of MPR News and Professor Creola Johnson from Ohio State University to discuss the issue of payday lending. Here are the key takeaways from the segment about the injustice of predatory lending, what Read more March 2021 Update
Joan Riley
Joan Riley Joined the Board of Directors in 2021 Joan is passionate about working with people and systems. She is an entrepreneur, training facilitator, and Certified Life Coach with over 14 years of experience working with individuals and groups in both corporate and nonprofit settings. She is currently the Community Engagement Manager at Twin Cities Rise Read more Joan Riley
Relesha Billups
Relesha Billups Joined the Board of Directors in 2021 With more than 20 years of combined Leadership, Talent Acquisition, and Diversity, Equity, and Inclusion experience, Relesha Billups is known for designing and implementing national recruitment strategies and leading and developing high performing teams. Billups has actively contributed to various Human Resources, business, and DEI initiatives Read more Relesha Billups
Sola Olateju
Sola Olateju Joined the Board of Directors in 2021 Minnesota born & bred, I am the youngest child of Nigerian immigrants. I come from a Christian faith background and was raised to see the inherent worth in each and every person. Today, my faith is still integral to who I am. I care deeply about Read more Sola Olateju