WSECU Service Corp. considering offering payday lending alternative

OLYMPIA, Wash. – Realizing that many credit union members use payday lenders despite the high fees they have to shell out, WSECU Service Corp. is looking into ways the CUSO can offer members more cost effective and consumer friendly alternatives. WSECU Service Corp. CEO Tristam Coffin said the CUSO is working on a competitive solution that will allow it to provide members with an alternative that gives them the convenience they feel they get from payday lenders, but at the same time secure their relationship with the credit union.” Coffin said the CUSO was “deep into the research process,” and that no date had been set yet on when WSECU Service Corp. would announce its solution. In other future plans, the CUSO is looking into offering auto and homeowners insurance services to members.