Self-Help Shares

Self-Help has teamed up with other local organizations in Asheville, North Carolina to offer supportive and practical financial education for people making the transition to employment. With a team of wonderful partners, we have organized a program called “Successful Transitions: Scaling the Benefits Cliff.”

Self-Help's lending offices aren't open now, but that doesn't mean we aren't lending. Recently we talked to Self-Help’s Director of Mortgage Originations, Shondra Tanner, who answered questions about current lending processes, underwriting guidelines, and her personal passion for helping future homeowners.

There are lots of reasons to produce an annual report. One is to document our work and express gratitude to all the members and partners who made it possible. This report also helps us remember that all of today’s work would not have been possible without all that has come before. With your help, Self-Help remains in a strong position to pursue our mission today.

Happy Juneteenth! It was an eventful week, with two strong Supreme Court decisions and a U.S. House committee hearing on PPP relief. We cover some of the highlights here.

As a long-time SBA lender, Self-Help began taking PPP applications on April 6. As of May 17, 2020, we had received SBA approval for $161 million in loans to serve 1,184 applicants. Sixty-eight percent of the loan dollars went to nonprofits. Altogether, we helped applicants continue employing 17,000 people.

The coronavirus isn’t the only thing that has been spreading in recent weeks. The Federal Trade Commission and state attorneys general all over the country have reported an uptick in deceptive scams, many of them tied directly to COVID-19. These scams can be alarming and very costly, often draining victims of hundreds or thousands of dollars.

As you’re protecting your physical health during this time, it’s important to protect your financial health, too. We know that COVID-19 is already causing great financial hardship as people and their family members face business shut-downs, unemployment and medical bills. Even if your finances are stable, this is a time to be extra vigilant about saving money and protecting the security of your accounts. 

Here we’re offering a list of financial tips and resources for individuals and small businesses. We welcome suggestions, and we’ll add more as they become available. 

Dedra Hines had been operating her own hair salon in Durham, NC for nearly 13 years when she received some bad news: The property owner was selling the building where Dedra’s salon, Amaka’s International Hair & Body Spa, was located. With little notice, Dedra was forced to close. She prayed for guidance, and she believes that God led her to Self-Help CU. 

Forty years ago, in February 1980, Self-Help began as the Center for Community Self-Help. When we started, we never would have imagined all the challenges and joys that lay ahead.

 Octavia Alexander is a woman who laughs easily and often, but she’s also had her share of tears. In 12 years with First Legacy Community Credit Union, she has experienced the joy of serving members she loves, but also the cycles of a credit union that has gone through both good and hard times. These days she is feeling a new hope for the future as First Legacy merges with Self-Help Credit Union.