CEO Larry Hayes Hits the Ground Running
When it comes to putting a plan in place and then bringing it to life, Larry Hayes doesn’t like to waste time pontificating on minutiae.
So much so that when he was hired in mid-June to become president/CEO of CU Holding Co., a Lenexa, Kan.-based CUSO that manages the strategic direction of six CUSOs, he put together a six-month flexible operating plan that mapped out visions and goals for each entity.
“I understand that. We’re not trying to gouge anyone. I just don’t want members to run into the arms of payday lenders at strip malls,” Hayes said.
Because there are a number of members around the country who have a need for the loans, XtraCash is moving forward with a plan to better promote the emergency funds as an alternative. The CUSO has the lending software for credit unions to implement that can help members who might not qualify for signature loan to offer a payday loan for less than overdraft protection, Hayes said.