Fair Break

Our Vision & Mission

Vision

Our vision is to transform financial strategies through innovative solutions, building a thriving financial institution where every household enjoys fair access to credit, savings & wealth-building tools.

Mission

It is our institution's mission to safeguard the financial security of our community. As a not-for-profit cooperative, we thrive only when our members succeed.

Because everyone deserves a Fair Break.

Executive Summary

• Provisional charter granted by NCUA on May 30, 2024 as a low-income designated community credit union
• Field of membership: 10-county Memphis-Clarksdale-Forrest City CSA (1 Million residents)
• Mission-driven to deliver financial education, affordable products & pathways to financial freedom
• Capital goal: Raise $600,000 in subordinated debt & donations to open doors and cover first-year operations

Community Need & Opportunity

• 28%+ of Memphis metro residents live below the poverty line
• Predatory lenders charge APRs > 400%, draining $40M+ from local households annually
• Every $1 invested in Fair Break FCU recycles 7x through local spending and savings
• Credit union model channels returns back to members, creating resilient community wealth

Products & Services

• Share & share-draft accounts with free online/mobile banking
• Credit-builder loans and payday alternative loans (PALs)
• Used-auto & personal loans tailored for thin/no-file borrowers
• Financial coaching, credit scoring workshops, youth savings clubs

Projected Impact (Years 1-3)

• 2,500+ new members gaining access to affordable financial services
• $10M+ in affordable loans to underserved communities
• $1.2M saved by members compared to predatory payday lending fees
• 20 local jobs created through direct employment and economic multiplier effect

These projections demonstrate our commitment to sustainable community wealth building and financial inclusion.

Investment Opportunity

• Investment Structure: Subordinated debt or donated capital options available to meet investor needs
• 7-Year Maturity: Long-term investment with scheduled principal repayment and competitive interest rates
• CRA Credit: Banks can receive Community Reinvestment Act credit for qualified investments
• Social Impact: High-visibility reporting on community impact metrics and financial inclusion outcomes

Join Us in Making a Difference

Your investment in Fair Break Federal Credit Union will transform financial access for thousands of Memphis residents while creating sustainable community wealth.

Become an Investor Today

"Because Everyone Deserves a Fair Break."