ESL Federal Credit Union has pledged $40,000 to support the Neighborly Fund, relief loans for community members in need as a result of the COVID-19 pandemic.
NeighborWorks Community Partners Rochester announced the fund in April 2020. The first distribution will provide no-interest, deferred loans of up to $3,500 to homeowners in Monroe County who are financially impacted by COVID-19 through layoffs, furloughs or other hardships.
NCP set out to raise $250,000 for these loans, which can be used to pay mortgages or utilities, phone bills, groceries, or other urgent needs. Borrowers receive one-on-one financial counseling to plan for the coming months and repay the loan when — or if — they can. Any repayments made on loans will help provide affordable financing to low-income residents.
Visit nwcprochester.org for information.