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Petition launched after First Atlantic allegedly rejects solutions for credit union Ribis issues

Petition: “Recently, there has been an awareness that using credit unions presents a serious question regarding the איסור דיורייתא  of ריבית.

A majority of today’s Poskim hold that at the very least it would be ideal to have a Heter Iska with many saying it is a necessity. First Atlantic (the credit union that most Lakewood car loans are done thorough) has been presented with several solutions which unfortunately were all rejected.

A credit union has the legal responsibility to respond to the requests of their members. According to the bylaws of First Atlantic if 500 members sign a petition requesting a special meeting they are obligated to comply. We respectfully request that anyone who is still a member of First Atlantic, regardless of the psak they received, should please sign the petition below so this matter can be resolved as quickly as possible. Please make sure to write the name, address, and phone number that is on file with First Atlantic.

 Dear Mr. E. John Culp, II 

 As you are aware a meeting was held on May 25th, 2018 with Ann Goldinack and Brian Meyers regarding a Heter Iska for the benefit of members who wish to avoid the Halachic challenges of violating the biblical prohibition of Ribis. On November 27th, 2018 Ms. Goldinack responded and rejected this request. It is our desire to be able to continue paying our loans and not cause any financial loss to ourselves or to First Atlantic. As loyal members of First Atlantic Federal Credit Union, we respectfully request that the administration engage us in finding an amicable solution. Pursuant to article IV section 3 of the First Atlantic Federal Credit Union bylaws we the undersigned members hereby request that the chairman call a special meeting of members within 30 days of receipt of this petition. 

Anyone who still has an account with First Atlantic and didn’t sign the petition in Yeshiva should please email the name, address, and phone number that they have on  file with First Atlantic to heteriskapetition@gmail.com”

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There are 2 Comments to "Petition launched after First Atlantic allegedly rejects solutions for credit union Ribis issues"

  • Idk... says:

    Most of lkwd uses first atlantic??!

  • Steve says:

    Yes many ppl use them they are a local credit union with the lowest rates and longest laon terms. Most used car dealers recommend then as an option so there must be quite a few ppl that have loans with them. I myself have 2 loans, 1 on each car.

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