Benefits and disadvantages of using online loan start-ups in Java Christian Church Congregations, Central Jatiluhur Bekasi, West Java

M Allo, Yusuf Rombe and Siregar, Edison and Panggabean, Lenny and Lim, Delvia Sari and Julita, Julita (2024) Benefits and disadvantages of using online loan start-ups in Java Christian Church Congregations, Central Jatiluhur Bekasi, West Java. International Journal of Commerce and Management Research, 10 (6). pp. 41-45. ISSN 2455-1627

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Abstract

The use of online lending services or fintech lending is increasingly widespread among Indonesians, including in the congregation of the Javanese Christian Church Jatiluhur Center, Bekasi. The ease of access and fast process offered by online lending start-ups make them an attractive option, but they also pose significant risks. Some of these risks include high interest rates, unclear information regarding loan terms, potential misuse of personal data, and unethical collection practices. This Community Service activity aims to educate the congregation of the Javanese Christian Church Center Jatiluhur Bekasi about these risks, as well as equip them with knowledge about wise financial management in order to avoid dependence on online loans. The methods used include socialization, group discussions, financial planning simulations, and distribution of written guidelines regarding online loans that are safe and in accordance with Financial Services Authority (OJK) regulations. Prior to the implementation of this Community Service activity, a pre-test was held for all congregants who participated in this activity and after that it was followed by a post-test on the congregation of the Javanese Christian Church, Center Jatiluhur Bekasi with the aim of knowing the development of congregational knowledge about online loan financial technology facilities. The number of participants who attended was 165 people with the following results: the results of the activity showed an increase in the congregation's understanding of the risks of online loans by 80%, as well as a decrease in interest in using online loan services after participating in this education. Through this activity, it is hoped that the congregation can be wiser in managing finances and be able to avoid the trap of risky online loans. Keywords: Financial Services Authority (OJK), literacy, education, technology, online-lending

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