Chief Financial Credit Union Partners with On the Wings of Angels to Launch Innovative "Pay It Forward" Micro Loan Program for Abuse Survivors
Groundbreaking initiative creates self-sustaining financial lifeline where survivor repayments fund future loans
Rochester Hills, Michigan, Oct. 20, 2025 (GLOBE NEWSWIRE) -- Chief Financial Federal Credit Union has launched an innovative micro loan program in partnership with nonprofit organization On the Wings of Angels (OTWOA) that breaks traditional banking barriers to provide financial support for survivors of abuse and trauma. 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.
"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," said Cheryl Boodram, Executive Vice President and CFO at Chief Financial. "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."
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. Loans are unsecured, require no collateral or co-signers, and feature flexible repayment terms designed around each survivor's circumstances.
"We've seen too many survivors trapped not by their abuser, but by the financial barriers that make leaving seem impossible," said JoJo Dries, founder On the Wings of Angels. "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 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.
Chief Financial's 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's mission to "inspire, empower, enrich communities" drives initiatives like this partnership that address real social challenges through innovative financial solutions.
Program highlights:
- 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
The program launched July 1, 2025, and represents Chief Financial's commitment to using banking as a force for positive social change. By partnering with specialized nonprofits like OTWOA, the credit union can extend its community impact beyond traditional financial services.
About Chief Financial Federal Credit Union
Chief Financial Federal Credit Union serves members with a values-based banking approach that prioritizes community impact and financial well-being for everyone. Founded on principles of resilience, spirit, unity, and creativity, Chief Financial stands apart from traditional financial institutions by aligning business operations with social values and community needs. Learn more at chiefonline.com.
About On the Wings of Angels
On the Wings of Angels is a nonprofit organization dedicated to supporting survivors of abuse and trauma through comprehensive services and advocacy. The organization's committee-based evaluation process ensures survivors receive personalized support tailored to their unique circumstances and recovery journey.
Media Contact:
JoJo Dries
On the Wings of Angels
248-980-0464
info@otwoa.org
A video accompanying this announcement is available at https://www.youtube.com/embed/qrs0iGZjgcs
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