Jafari No-Interest Credit Union

Members can open savings accounts and apply for no-interest loans through this Houston credit union. Loan options include refinancing eligible auto, student, or home loans, as well as financing for home or car repairs, medical expenses, college, personal needs, and business equipment purchases or repairs. Refinancing requires at least three monthly payments, and applicants must meet the credit union's income, credit, and other requirements. Savings deposits are federally insured up to $250,000; deposits and withdrawals are handled by ACH. The credit union was created and supported by the Jafari community and began operations in 2016. Its specialty is providing loans without charging interest, with operating costs funded through member fees and donations.