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PORTLAND, Ore. – Oregon Governor Theodore Kulongoski wrote Portland Teachers CU President/CEO Cliff Dias recently thanking him for the CU’s efforts in combating payday lenders and check cashers in the state. The letter specifically cited the CU’s new Payday Advantage Loan which was designed as an alternative to payday lenders and check cashers. Last month the Oregon regulator admonished Oregon CUs for not doing more to combat the payday lenders and check cashers in the state. “I was delighted to learn of your new product, the “Payday Advantage Loan,” which will provide your members a lower-rate alternative to traditional payday lending. It appears Portland Teachers spent a great deal of time putting together a thoughtful alternative that will provide great service to your extensive membership,” wrote Governor Kulongoski.

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