Archive: Business & Technology

Alternatives and Planned Parenthood of the Southern Finger Lakes (PPSFL) announced the next phase of their partnership will be TransAction Financial Empowerment Program.

One of the first programs in the United States specifically for transgender and non-binary community members, TransAction provides access to funds to support transition-related care and expenses, such as hormone therapy, vocal coaching, accessing more fitting wardrobes, legal documentation updates, and surgeries and other medical procedures—without the risks of high-interest credit or predatory lenders.

A common practice Devon Ritz, Senior Outreach Educator and LGBTQ Patient Navigator at PPSFL, sees for those who want to or are in the process of medically transitioning is to accumulate high credit card bills to receive the care they need. In the same way, many clients may not be able to work with the doctors and professionals they want because of strict—and often discriminatory—insurance practices.

TransAction offers two types of loans: a personal loan and a line of credit. This way, clients have a choice between financing one-time costs or having revolving funds for ongoing needs as they arise. To begin the process, a borrower needs only a referral from a medical care professional. Patients are welcome to utilize PPSFL's services for a referral, and Alternatives accepts any care professionals' referral for TransAction. Alternatives believes in patient privacy and confidentiality, no specific details of care are requested for the referral.

Reiley Schoen, Alternatives Chief Operations Officer, says "Alternatives has always nurtured innovative ideas that benefit our community. As a transgender person, I feel incredibly blessed to work at an inclusive organization as Alternatives and to have access to health care at PPSFL. The competent and kindhearted lending team at Alternatives will help make the process comfortable and respectful for those looking at our 'TransAction' products. We also offer financial counseling for anyone in need of improving their financial picture. We create a safe, supportive, and comfortable environment with counselors who are trained to be active and careful listeners. "

Now, instead of suffering under debt and high-interest rates, Ritz says TransAction will provide the transgender and non-binary people in our community with another option: responsible lending explicitly created for their needs. "This is a significant, groundbreaking partnership that can directly improve the lives of people," she said.

PPSFL was the first Planned Parenthood in New York State to provide hormone care for transgender and non-binary people. They have been proudly providing hormone therapy and preventive health services since 2013. In 2013, 28 people received care, and in 2018, 482 patients were served; a 1,621% increase in people receiving this life-changing and life-affirming care.

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