![freedom first credit union freedom first credit union](https://www.freedomfirst.com/assets/content/msHF4q4N/consumer_2_visa_one_third_032016-2.jpg)
The product will offer people the option to sign up for a free line of credit that they can use for emergencies in the future.The product will offer people the option to wait five days for funds to be disbursed in exchange for an almost 5% reduction in their interest rate.The new product, still unnamed, is based on the standard microloan the credit union currently offers, but with two key twists: I just returned from a trip to Roanoke, VA where I met with some of the folks at Freedom First Federal Credit Union to learn more about the launch of their new microloan product in April, supported by the US Household Finance Initiative’s Financial Products Innovation Fund.
![freedom first credit union freedom first credit union](https://visitaccess.com/wp-content/uploads/2020/01/FFCU-Graphic-2-1024x576.jpg)
The fund supports the development of scalable, market-tested products that help households make better financial decisions, escape cycles of debt, build assets and achieve financial resiliency.
![freedom first credit union freedom first credit union](https://www.freedomfirst.com/assets/content/BpyzDROD/Rke%20Hos%20House3.jpg)
Freedom first credit union series#
This blog series highlights the US Household Finance Initiative's Innovation Fund grantees.