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Based on research data published by the Financial Industry Regulatory Authority, 63% of Americans are financially illiterate.  Research conducted by many other teams suggests that financial illiteracy in rural communities and among African Americans is at least 10 points higher, upwards of 73%.  This leaves our community vulnerable, and makes it easy for almost anyone to take advantage. 


Financially illiterate people - especially in our community - become victims of predatory lending, subprime mortgages, fraud, and higher than justified interest rates.  It's one of the reasons why there are 2x more "quick" loan stores (payday, car title, pawn shops, etc.) than there are traditional banks and/or credit unions in our community.


Financial illiteracy can lead to owing large amounts of debt and making poor financial decisions.  This often results in bad credit, foreclosure, and bankruptcy.  If you don't understand the basics of personal financial management, it doesn't matter how much you earn.  Financial illiteracy endangers our entire community - even those of us who "make a good living." 


South Fulton is a vibrant community and could be a real source of wealth for many generations to come.  Our community would be even more stable and prosperous if more of us understood - 

     1)  how money works, and

     2)  how to make what you have - no matter how little - work harder for you.


Credit Unions inherently operate to promote the well-being of their members.  Profits are returned back to members in the form of reduced fees, higher interest rates on savings accounts, and lower interest rates on both loans and credit cards.

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