Without a doubt about Credit union attempts loans that are payday

Without a doubt about Credit union attempts loans that are payday

The Everett branch associated with Washington State Employees Credit Union is part of a pilot project to go the corporation to the pay day loan business.

The program, called Q-Cash, has raised some eyebrows within the monetary solution industry, where payday lending is seen with a few distaste, stated Kevin Foster-Keddie, the president for the Olympia-based company.

“We get that response a great deal,” he stated.

However the objective is lower the number of credit union people that are depending on the short-term, high-interest loans to produce ends satisfy, he stated. “We think we are able to actually replace the method payday financing is done and set a fresh standard for how it is done correctly.”

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