NAPERVILLE, Ill. -- Illinois credit unions are getting off to a quick start this month in supporting the REAL Solutions program run by the National Credit Union Foundation designed to aid low-wealth households and others with payday alternative and financial education products.
"Illinois credit unions set a record for having 30 sign up at the first meeting, which is the most of any so far," said Steve Bosack, deputy director of NCUF in describing an introductory session conducted by the Illinois Credit Union League.
Both the league and NCUF said the enthusiastic backing for REAL Solutions shows continuing support among state leagues for the program which commits CUS to offer a wide-ranging menu of products and services.
League officials, projecting more CUs would signup during 2008, said the newfound "partner" CUs convened at the session discussed procedures in offering the products this fall throughout the state.
Before Illinois and its 30 signups, the previous record launch was Arizona with 19, said Bosack.
At the national level, REAL Solutions, he said, is now being offered by nearly 500 CUs in 28 states.
"The original goal was to reach 33 states by the end of 2009," he said. "Now less than halfway into our three-year signature program commitment, REAL Solutions has already reached critical mass."