Nutmeg State Financial Credit Union has introduced a new loan program designed specifically for low-income families.

The organization unveiled its Working Wheels program earlier this week, which allows qualified families to borrow up to $10,000 for vehicle purchases without having to resort to predatory lending options.

Applicants must have a minimum of six months employment and work at least 30 hours per week to qualify. The program also includes a required financial education component to stress the importance of proper financial management and maintenance.

Nutmeg is in part able to offer this program because it is a community development financial institution, a federal designation it got in 2016 that allows it to reach underserved markets with products and services.

“We are always looking for more ways to help the members of our community,” John Holt, president and CEO of Nutmeg, said in a statement. “We were inspired to create Working Wheels after seeing how challenging it can be for some families to have a reliable way to get to and from work.”

Nutmeg aims to use Working Wheels to empower hardworking, credit-challenged families and offer them a chance to gain an economic foothold. The credit union wants to help local families improve their financial standing by providing reliable vehicles, which are often necessary to maintaining a job.

“The goal of Working Wheels is to help families gain financial independence and learn all about managing their money,” Holt said. “The program is another step in the right direction for us and I’m confident it will make a positive impact on the lives of so many families across the state.”