|
Responsible Rides, the brainchild of
Total Action Against Poverty and New River Community Action,
is the culmination of a two year project seeking to find a sustainable
solution to increase car ownership for low-income working families.
Early in the project development, these two non-profit agencies
recognized that in order to implement a local sustainable solution, it
would require leveraging the specialized knowledge of the business
community - namely the lending expertise of Freedom First Credit
Union and access to a large inventory of affordable cars by
Enterprise Car Sales.
Often ignored, access to car ownership
is a common problem for many low-income working families in the Roanoke
and New River Valley areas. According to the U.S. Census Bureau's
American Community Survey of 2008, one in 12 households in the Roanoke
Valley does not own a car, and one in 15 in the New River Valley. And
unlike public transportation, car ownership offers convenience,
flexibility, safety and the opportunity to work for employers outside of
limited bus routes.
Total Action Against Poverty
and New River Community Action
have recognized for years that car ownership is a critical factor in
obtaining and keeping a job. For low-income working families, car
ownership can mean the opportunity to earn a higher wage, obtain better
employment, spend more family time together, and have access to more
choices in terms of housing, schools, and social activities-together
helping create a better quality of life and financial independence.
Common issues such as overpriced and
unreliable cars, high interest rates offered by predatory lenders, high
down payments, hidden purchase costs, and the limitations caused by poor
credit histories prevent low-income working families from improving
their lives through car ownership. However, with the Responsible
Rides program, affordable car ownership can be a reality for many
local low-income working families.
Responsible Rides is available to those
living in Southwest Virginia whose household income is at or below 200
percent of the poverty level. Other requirements in the program include
successful completion of three hours of free financial education and
attendance of a two-hour vehicle maintenance class. By developing sound
money management and basic car maintenance skills, these cash-strapped
families, many with poor credit scores, can ensure they are
well-prepared for the responsibilities of car ownership.
About Freedom First Credit Union
Founded in 1956, with more than 35,000
member-owners and assets of $275 million,
Freedom First Credit Union has been
helping families in the Roanoke and New River Valley areas enjoy a wide
range of low-cost, high-value personal banking services. For more
information, visit www.freedomfirst.com.
About Freedom First Insurance
Freedom First Insurance is an
independent insurance agency owned by Freedom First Credit Union,
offering auto and home insurance from a carefully selected group of
respected insurance carriers. For more information, call (540)
362-9781.
|
