Catholic Charities Oregon and partners to launch alternative to payday loans

National leaders in financial wellness gathered at Catholic Charities in Portland, Ore. on Dec. 4 and 5 to advance alternative strategies to predatory payday loans. Catholic Charities Oregon and its partners are committed to improving financial wellness in the workplace and providing resources to support financially fragile Oregonians.

Today, among U.S. states, Oregon ranks 27th in the Gallup Healthways Well-being Index. Given that financial security is one of the five elements that significantly contributes to well-being, Catholic Charities Oregon is dedicated to improving the financial health of Oregonians by continuing to offer critical services, convening thought leaders in this arena, and partnering with employers and financial institutions to ensure the financial well-being of all Oregonians.

“More and more, we understand how community-based organizations and employers can work together to help lower-income employees make sound financial choices for themselves and their families. The FINRA Foundation is thrilled to partner with Catholic Charities USA to help local organizations develop workplace strategies that meet important needs for hardworking employees, employers, and the community,” shares Susan Sarver, associate director of FINRA Investor Education Foundation.

Director of the Family Success Center at Catholic Charities Oregon, Molly O’Donnell says, “We see this employer-sponsored small dollar loan as another tool in our toolkit when working with the poor and vulnerable within our community. With this product, clients who have barriers to accessing conventional loans will now have an affordable product and the support necessary to change their family’s financial future.”

For more information please visit Catholic Charities of Oregon’s website: https://www.catholiccharitiesoregon.org/economic-empowerment/­Â­