GFA Microloan Partnership with Salus Strengthens Member Impact
GFA Federal Credit Union’s partnership with fintech company Salus has delivered powerful results for members, particularly among younger generations seeking affordable, responsible solutions for short-term financial needs. Since launching the program in 2024, GFA members have realized nearly $469,000 in total savings compared to costly payday lenders and other high-interest alternatives. These outcomes demonstrate that microloans are more than a product—they are a pathway to long-term financial stability.
“Microloans provide our members with affordable, fast, and dignified access to funds during unexpected emergencies,” said Tom McGregor, EVP/Chief Lending Officer. “The results speak for themselves—hundreds of members have avoided predatory debt cycles, saving almost half a million dollars in a single year.”
The data confirms that the program is connecting GFA with its next generation of members. The median age of borrowers is just 29 years old, with the majority of participants identifying as Gen Z or Millennials. These demographics are critical to the long-term sustainability of credit unions nationwide, and GFA’s ability to provide innovative, mission-driven solutions ensures relevance with younger audiences.
James Chemplavil, Founder and CEO of Salus, added: “By offering microloans, GFA is not only helping members in the moment—they are creating members for life. This is exactly the kind of forward-looking strategy credit unions need to thrive in the future.”
Beyond microloans, the collaboration leverages Salus’ analytics tools, including the Salus Sentinel, empowering GFA to proactively support members who may be at financial risk.
This partnership highlights GFA’s continued evolution to meet modern member needs—combining innovation, compassion, and measurable impact to deliver financial solutions that matter.
About Salus
Salus is a mission-driven fintech dedicated to improving financial wellness for everyday consumers. By leveraging cash-flow–based underwriting, automation, and advanced analytics, Salus empowers credit unions and community financial institutions to provide members with fair, affordable alternatives to payday lenders and other high-cost borrowing.
With products including microloans, earned wage access, rent reporting, and the proprietary Salus Stress Score, Salus helps credit unions deepen relationships, support underserved members, and create lasting connections with younger generations.