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Guaranteed Loan Program for Medical Debt

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Jul 1, 2023
Under:
  • Rainy Day Support - Medical Bills
Our SEG partner Holy Family Memorial hospital had a problem where their patients could not pay in full within the terms of payment for the hospital. The hospital understood that their patients wanted to pay their debts, but what they needed was extended financing. That's where HFMCU came in. We took on people's medical debt as part of a guaranteed loan program with the hospital. We offered extended financing at a nominal interest rate. This saved many members and patients of the hospital from having their bills go to collections!