News
Stories and news from Exodus Lending and the financial industry
September 2022 Update
Trends in Our Refinancing Program So far in 2022, our refinancing program has served 54 Minnesotans and paid off $61,371 of payday, auto title, installment, and pawn loans. That’s an average of $1,137 per enrollment – the highest yearly average in our program history! This spike is due to more borrowers struggling with title or Read more September 2022 Update
Savings Programs
Whether in a shoebox or a designated account, there are many places to stash your personal savings. The problem might be finding the extra cash, and the motivation, to set money aside in the first place. And with the high cost of living right now, we could all use a reminder that saving even a Read more Savings Programs
Annual Report 2021
Exodus Lending’s full Annual Report can be downloaded by following this hyperlink: Annual Report 2021 Annual Report 2021 by Anika Riewe on Scribd
Kim Miller
Kim Miller Joined the Board of Directors in 2022 For much of my career, I have helped people feel more confident in managing their finances. I became a certified financial counselor with LSS in 2004, then worked for various non-profits throughout the United States. When my family and I moved back to Minnesota (and LSS) Read more Kim Miller
August 2022 Update
“I feel like I got a master’s degree in predatory lending!” Can you believe it has been six months since Anne stepped into the Executive Director role?! Since February, she jumped right into the work and has been busy helping us to grow internally, build new partnerships, and spread the word about our program. For Read more August 2022 Update
Loans Among Family and Friends
Asking family and friends for money can feel embarrassing or shameful. On the flip side, loaning money to a loved one can feel risky or stressful. But the options for small-dollar loans are incredibly limited, especially for those with low or no credit, and it’s tough to see someone you love in a pinch. This Read more Loans Among Family and Friends
July 2022 Update
✨Thank You!✨ Thank you to the 110 people who attended our successful “Lending & Transcending” fundraiser. For this event, our generous supporters gave 85 gifts and pledges totaling nearly $30,000! Our successful fundraiser was a joyous celebration of community-centered healing, art, and entertainment. As always, we are honored to partner with you as we continue Read more July 2022 Update
Saving Money on Gasoline
Although most of us don’t need someone to tell us prices have been increasing, decades-high inflation has been discussed frequently in the news lately. Among many other items, we’ve seen some record-high gasoline prices throughout the country. And while prices have stopped rising and are starting to come back down a bit, here are some Read more Saving Money on Gasoline
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
Financial Coaching
With today’s increasing costs and the loss of COVID financial support, many of us are finding it harder to live within a budget, let alone save for emergencies and the future. Fortunately, our community has compassionate and knowledgeable financial coaching programs that help people set and reach their unique money goals. What is a financial Read more Financial Coaching