Last night I saw a reading of a show called "American Home" - the play details the plight of several Americans who, for some reason or other, are forced to default on their home loans. The playwright, Stephanie Walker, wrote the show while she faced foreclosure.
The common theme of the main storylines presented were that the banks that lent them the money preyed on their hopes, dreams and aspirations, and then raised their rates the moment they fell behind.
After the show, the producers held a talk back where members of the audience could interact with the performers and discuss their thoughts on the show. Surprisingly, several people commented on the reality of the situation - they felt led astray by the banks of America.
One woman discussed how she had lost complete and utter faith in financial institutions because of the rate hikes and, as she put it, "deception." In here words, "There was a bailout for everyone except the people who needed it the most."
The members of the audience who spoke up were extremely vocal about their feelings. How has your credit union addressed this sentiment, if its present in your community? Does your credit union have programs or plans in place to help new members who have been affected by the housing crisis?
Let me know in the comment section!