ROCHESTER HILLS, Mich.–Chief Financial Federal Credit Union has launched a micro-loan program in partnership with nonprofit organization On the Wings of Angels (OTWOA) that provides financial support for survivors of abuse and trauma.
The credit unions said the mission-driven program creates a powerful “pay it forward” cycle where each survivor’s successful loan repayment directly enables funding for the next person in need.
“Unlike conventional lending that relies on credit scores and income verification, the program uses personalized evaluations conducted by OTWOA’s dedicated committee to determine eligibility based solely on survivor need and potential for rebuilding their lives,” Chief Financial said.
‘Deeply Personal’
“This program is deeply personal for me, because I know firsthand how financial barriers can keep survivors from rebuilding their lives — and how just a little help at the right moment can change everything,” EVP/CFP Cheryl Boodram said in a statement. “Our mission-driven loan program with On the Wings of Angels is a true lifeline, giving survivors the financial freedom to take their next step toward safety and stability. Every repayment opens the door for the next survivor, creating a cycle of hope that’s at the heart of who we are at Chief Financial — more than a credit union, we’re a partner in people’s lives.”
According to Chief Financial, the program addresses immediate financial needs that often prevent survivors from escaping dangerous situations or rebuilding their independence, including housing deposits, transportation, healthcare, legal services, and other recovery-related expenses.
No Collateral Required
Loans are unsecured, require no collateral or co-signers, and feature flexible repayment terms designed around each survivor’s circumstances, the credit union said.
“We’ve seen too many survivors trapped not by their abuser, but by the financial barriers that make leaving seem impossible,” JoJo Dries, founder On the Wings of Angels, said in a statement. “This partnership with Chief Financial removes those barriers and creates something beautiful – a community of survivors supporting each other through their repayments. When someone successfully pays back their loan, they’re literally opening the door for another person to find their freedom.”
The credit union said the revolving loan structure ensures sustainability while maximizing impact.
“As survivors repay their loans, those funds immediately become available to help the next person in need, creating an ongoing cycle of support within the survivor community,” it added.
Chief Financial said its values-based banking approach prioritizes community impact over traditional profit metrics, aligning business operations with core values of resilience, spirit, unity, and creativity. The credit union further stated that its mission to “inspire, empower, enrich communities” drives initiatives like this partnership that address real social challenges through innovative financial solutions.
The Highlights
Program Highlights
According to the credit union, highlights of the program include:
- Eligibility determined by survivor need, not credit history
- Flexible loan terms up to 60 months
- No collateral or co-signers required
- Revolving fund structure creates sustainable support
- In-person loan closings with OTWOA representative present
- Built-in support system through nonprofit partnership
