City of Bridgeport makes car ownership easier for residents

Posted: Updated:

The City of Bridgeport is now making car ownership a little easier for its residents.

Mayor Joe Ganim and the Small & Minority Business Enterprise announced a car ownership program called Working Wheels Tuesday. The partnership with Nutmeg State Financial Credit Union will help benefit low-income families.

The Working Wheels program is different than typical car loans because it's not based on credit, but based on buyers willingness and motivation to improve their financial situation.

Dana Clark, vice president of lending at Nutmeg State, says they saw a need for the program in the community because 82% of the city relies on cars to get to work - and that's not made any easier by the lack of public transportation in Bridgeport

Loans are roughly $10,000 with about three or four years to pay them off. Since June, the program has helped seven people with their car loans.

 

 

 

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