Pelican State Credit Union Pays Off $300,000 Worth of Debt for 39 Members

Pelican State Credit Union provided immense financial relief to 39 members by paying a total of $300,000 worth of their personal debt.

The Pelican Pays Debt Program is a deeper commitment to the promise that it pays to be a Pelican member. The program is one of the many ways the credit union is fulfilling its mission to make a difference in its communities by providing accessible financial solutions for individuals and families in underserved markets. Pelican developed the program thanks to its Community Development Financial Institution (CDFI) designation and grant funding. The program offers recipients substantial relief from their financial burden.

Six hundred twenty-nine applicants submitted requests for debt relief. The recipients were chosen carefully by an internal committee based on eligibility requirements set forth by the CDFI grant program.

In addition to paying off their debt, the recipients are meeting with Pelican's Nationally Certified Credit Counselors to determine the most beneficial way to pay their debt and set them up for financial success.