News
Stories and news from Exodus Lending and the financial industry
Exciting news!
We’ve surpassed the 100 mark! Exodus Lending has now refinanced the loans of 101 persons trapped by payday loans and look forward to helping others soon. A few more statistics: The total number of participants who have repaid their loans in full and have “graduated” from Exodus Lending: 41 (and growing each month!) Total number of Read more Exciting news!
Exodus Lending takes a faith-based approach to righting financial injustice
We appreciate that our story is highlighted in the fall/winter issue of Luther Seminary’s Story Magazine. Samuel Chamberlain talks about how Exodus Lending got started, how payday loans work and what we continue to do to free people from payday loan debt. Read the entire story here↗ (opens in a new tab).
Exodus Lending continues to change lives!
Exodus Lending has now refinanced the loans of 93 persons trapped by payday loans and we look toward reaching 100. A few more statistics: The total number of participants who have repaid their loans in full and have “graduated” from Exodus Lending: 27 (and growing each month!) Total number of loans refinanced: 124 Total amount Read more Exodus Lending continues to change lives!
Mary's Pence supports Exodus Lending!
Exodus Lending is thrilled to announce the award of a Mary’s Pence grant to support the work we are already doing and help continue to refinance payday loans for persons trapped in the payday loan cycle. Mary’s Pence invests in projects that support women’s well-being – physical, social and economic. Mary’s Pence funds women in North, Central and Read more Mary's Pence supports Exodus Lending!
Sept/Oct update
Let the Consumer Finance Protection Bureau know what you think of payday lending! October 7th is the closing date to let the CFPB know that you support tight restrictions on payday lending. Just this week we at Exodus Lending got a call from a new mom whose income was slashed when she was on unpaid maternity Read more Sept/Oct update
Payday lending alternatives continue to grow
Exodus Lending is highlighted in the Star Tribune as an organization that helps people get out from under the payday loan debt trap. Read the entire article here
New guidelines, nonprofits help curtail predatory payday loans in Minnesota
Exodus Lending board chair, Anna Brelje, shares her story and explains what Exodus Lending does to free individuals from payday loan debt in this Twin Cities Daily Planet article. “Even as guidelines against payday lending services stall out in the labyrinth of bureaucracy, local changemakers continue to provide relief for families caught up in debt Read more New guidelines, nonprofits help curtail predatory payday loans in Minnesota
WE the podcast with U.S. Representative Keith Ellison
U.S. Representative Keith Ellison interviewed Exodus Lending current board chair, Anna Brelje. They spoke about her experience with payday loan debt, and how Exodus Lending works to free persons from payday loan debt, as part of an episode of his podcast program, “WE the podcast” on May 28, 2016, which focused on payday loans. Listen to Read more WE the podcast with U.S. Representative Keith Ellison
Exodus Lending on AM950
Exodus Lending leaders (former interim director Meghan Olsen Biebighauser and board member Anne Franz) were interviewed, along with Kate Hess Pace, from ISAIAH, for the Connections radio program on AM950 on February 27, 2016. One of our program participants, Warren, called in to share his experience with Exodus Lending as well. You can hear the whole Read more Exodus Lending on AM950
August Update
Unfortunately, payday lending doesn’t take a summer vacation. The good news is that neither does Exodus Lending! We now have worked with 82 loan participants and refinanced 109 loans. Nine participants in our program have completed paying back their loan over the last year. More are scheduled to complete their payments in August and we’ll Read more August Update