MADISON, Wis. — Greater Wisconsin Credit Union President/CEO Kim Sponem shared CU alternatives to payday lenders in a letter to The Capital Times.
Responding to an editorial, Sponem talked up the credit union difference and her credit union's answer to payday loans.
"Our Money Now loans are an easy, fast, and flexible way for people to solve short-term cash-crunch problems. The confidential loans require no credit check and are available at our branch at the intersection of Thierer Road and East Washington Avenue, located in an area serving many people with low to moderate incomes," said Sponem in the article. "The only items necessary to qualify for a Money Now loan are a job and a Great Wisconsin Credit Union checking account.
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"And the reality is that 10 out of 10 people who borrow from predatory payday lenders would be dramatically better off if they were to become members of a credit union," Sponem continued. "Their financial needs would be served appropriately, and they'd benefit from user-friendly information that would help make their future money decisions more productive."
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