The City of Bridgeport and the Small and Minority Business Enterprise is partnering with Nutmeg State Financial Credit Union to help low income families afford the cars they need to get back and forth to work. Mayor Joe Ganim made the announcement about the Working Wheels program at a press conference on November 19, 2019 at the Margaret Morton Government Center in Bridgeport.
Joining Mayor Ganim was Fred Gee, Director of the Small and Minority Business Enterprise, representatives from Nutmeg State Financial Credit Union, including President & CEO John Holt, Vice President of Lending Dana Clark, Chief Engagement Officer Lisa Asadourian, and Business Consultant Orlando Marquez, along with City Council and community members.
Nutmeg member Tara Maxwell shared her personal experience with Working Wheels after struggles that included losing her apartment, job, car, and ultimately being homeless for three months. When she did get back on her feet, she had to rely on rental cars to drive herself to and from her two jobs. “With a low credit score I was worried about ever owning a car, until I found Nutmeg State Financial Credit Union. They help you every step of the way." She explained that today she drives a 2015 Chrysler thanks to the unique auto loan program.
Mayor Ganim says this partnership is welcome since 82% of people in the area rely on automobiles to get to work. "We don't have the type of public transportation in Connecticut that you see in other parts of the country. With no subways or metros, people need cars.”
Nutmeg’s Working Wheels program is designed specifically for low-income families and allows them to borrow up to $10,000 to purchase a reliable vehicle. The program also includes a required financial education component to stress the importance of proper financial management and maintenance. Interested candidates can find out more at www.nutmegstatefcu.org or by calling 860.513.5000.
From left: Bridgeport Mayor Joe Ganim joins John Holt, President and CEO of Nutmeg State Financial Credit Union and Fred Gee, Director of Small and Minority Business Enterprise (back row) to announce the Working Wheels car ownership program offered by Nutmeg, along with Tara Maxwell, Working Wheels Recipient, and Dana Clark, Vice President of Lending at Nutmeg State FCU. Photo courtesy of Nutmeg State Financial Credit Union.