Infinity Federal Credit Union launched a program in July to make personal loans up to $10,000 to Maine residents aspiring to become U.S. citizens.
President/CEO Elizabeth Hayes said the Portland-based credit union ($335.1 million in assets, 15,856 members) is offering the “Bridge to Citizenship” personal loans to allow “new Mainers” to cover the cost of become a U. S. citizen while also establishing a positive credit history.
“At Infinity Federal Credit Union, we celebrate diversity of experience, perspective and ideas in the work we do and the people we serve,” Hayes said. “We are fortunate to have the opportunity to make a difference in people’s lives and to have committed employees who are passionate about keeping people a step ahead. That is the key to our success.”
Infinity offers the loans at rates starting at a 5.99% APR for a one-year loan with flexible terms up to 84 months. The loans can be for up to $10,000 per member, depending on need.
The loans can be used for green card and naturalization applications, petitions and travel expenses for alien relatives, related legal fees and asylum costs. Applicants will need to show a pay stub, a government ID and evidence of their non-citizen status.
Infinity FCU collaborated with several local organizations, including Community Financial Literacy (CFL), a Portland non-profit offering counseling for individuals and families, and Catholic Charities Maine Refugee and Immigration Services, which is Maine’s only refugee resettlement program.
Kathy Akopov, Infinity FCU’s senior marketing manager, said the credit union has been increasing its language capacity for several years. Among its 81 employees, there are speakers of Portuguese, Spanish, Turkish, Azeri, French, Kirundi, Kinyarwanda, Russian, Vietnamese, Nepalese, Hindi, Punjabi and Bengali.
“In May, we hired two new part-time employees through a partnership with Portland Adult Education who speak multiple languages to work in the Portland Branch,” Akopov said. “We plan to continue building our diverse workforce and language capacity to make people feel at home in our branches.”
The announcement was made July 26 at the ribbon cutting for the new Infinity FCU branch at 29 Baxter Boulevard in Portland’s Back Cove. The downtown Portland branch is the Infinity FCU’s fourth, in addition to locations in Arundel, Bangor and Westbrook.
