June 6, 2019

If you've followed CSL closely in the last five years, you know our commitment to helping families access credit at reasonable rates. In 2014, we partnered with Holy Rosary Credit Union to develop our Small-Dollar Lending Program. Here's a quick recap of some of the more notable program statistics (as of April 30, 2019):

- 300+ loans

- $750,000+ in original loan values

- Those seeking refinancing of a toxic loan came with an existing average APR of 275%

- The average credit score at loan origination was 490

- We've been able to reduce APRs to an average of 14%

- We opened two state-licensed micro-branches of Holy Rosary Credit Union inside CSL offices, and hired a full-time loan officer to provide the staffing

- Our loan charge-off rate is only 7.8%

- We secured philanthropy to back the loans so the Credit Union's risk was mitigated

- We opened more than 500 traditional banking accounts/products (savings/checking account, direct deposit, debit card, secured credit card, etc.)

Along the way, we'v...

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