Education and Responsibility

Clarity and transparency should be prioritized in all credit transactions.  Responsible lending is transparent lending.

Responsible underwriting procedures should be utilized in any extension of credit.  The goal of underwriting is to make a reasonable assessment of the consumer's ability to repay the loan.

The success of a consumer credit company should be based on the performance of its loans and the satisfaction of its customers.  Responsible lenders do not look to benefit from loans that are not fair, nor that create a cycle of debt.

Financial education should be taught at home and in schools.  That's why GFSA has a long-standing relationship with the Georgia Council on Economic Education, a group that prepares teachers to teach economics so that students become financially literate.

GFSA members reinforce responsible borrowing practices and emphasize accounting in personal decision-making.  Click the AFSA Education Foundation link for free financial planning resources, including budget worksheets and brochures explaining a variety of consumer credit products.