Credit unions talk a good game about wanting to serve low-income populations. But do they really? And would regulators let them?
Personal loans still offer niche, participants say, and a way to serve members while competing with payday lenders.
In order to succeed in the 21st century, credit unions cannot afford to not serve the enormous and growing population of financially underserved consumer.
FactorTrust CEO Greg Rable says question is whether credit unions can afford not to serve the financially underserved.
Alabama credit union says the difference lies in how operation will work to move customers to membership, traditional savings and credit products.
New director Richard Cordray holds first field hearing, followed by session with credit union leaders, in Birmingham, Ala.
The National Consumer Law Center continued its criticism of payday lending CUSOs in a NCUA comment letter on proposed amendments to the CUSO rule.
Members of six credit unions in Lincoln, Neb., will have another way to meet their need for short- term, low-dollar loans after their CUs joined together to start offering an alternative to payday loans offered elsewhere.
The National Federation of Community Development Credit Unions announced a new program designed to help New York City area CDCUs offer payday loan alternatives last week.
Small NYC credit unions to be first to offer "Borrow and Save" loans.