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ROCK HILL, S.C. — Debuting what is being called an innovative approach to payday products, the $200 million Family Trust Federal Credit Union has rolled out “Lifeline Advance” loans incorporating both a savings feature and a $35 program fee.

The pre-approved product with a $500 limit is already garnering buzz from the media and lawmakers who applaud the South Carolina CU for pushing ahead with a payday alternative at a time neighboring North Carolina and Georgia are shutting down or crimping operations of the payday shops.

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