THE Josephite Foundation has reached a significant milestone, having given $2 million worth of interest-free loans to people in need in the Central West.
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Established by the Sisters of St Joseph at Perthville, the foundation began work towards implementing its primary program, the No Interest Loans Scheme (NILS), 15 years ago.
The foundation’s executive officer Kirsty Gilmore explained the program was about giving people “a hand up, not a hand out”.
“Our clients come in, get the loan themselves – where no one else would give them a loan – and, when they’ve paid it off, their sense of achievement and pride is just amazing,” she said.
“We get retirees, we get teenagers on Youth Allowance needing computers for uni – the program covers a broad cross-section of people in the community.”
The Josephite Foundation was established in 1998 in response to Pope John Paul II message for the World Day of Peace in 1998. In his speech, the Pope recognised that peace was always threatened by injustice. He named financial exclusion and the lack of equal access to credit as some of the world’s injustices.
NILS began operation in Bathurst in 1999 and has since expanded to Lithgow, Cowra and Young.
The initial capital for the project came directly from the pockets of the Sisters of St Joseph at Perthville. Since then, funding has been obtained through donations and government grants.
“You see, the whole thing has been about sharing our resources with people who have less,” said Sr Mary Comer, a past congregational leader. “Although the loans may be small, they’re enough to turn people’s lives around. Like a battling family that doesn’t have a washing machine, that can make a huge difference.”
Ms Gilmore added: “I had a client in Bathurst with five children and a husband. She was doing the washing for over a year by hand until she found us.”
No interest loans of up to $1000 enable low income earners to purchase essential household items, and may also be used to pay for medical or educational costs. After paying off one loan, clients may apply for another loan.
Ms Gilmore said the success of the program was largely due to its board of directors and its dedicated band of volunteers.
As well as celebrating this significant occasion, the Josephite Foundation is also in the running for a 2013 Carillon Business Award for excellence in community service.
