Pennsylvania Credit Unions Provide Payday Lending Alternative

Pennsylvania Credit Unions Provide Payday Lending Alternative

Cash-advance organizations, also referred to as payday loan providers, provide loans to working customers whom require instant money before they get their next paycheck. Customers supply a post-dated check or electronic bank account information as security for the loan. At a payday lender, the yearly percentage price (APR) of great interest for the 14-day advance of $100 or $200 is 460 per cent.

There are many more than 23,000 cash advance outlets

The PCUA created Credit Union Better Selection (CUBC) and offered it to its user credit unions, that have a choice of supplying it to present as well as other qualified members. Continue reading “Pennsylvania Credit Unions Provide Payday Lending Alternative”