HARRISBURG, Pa. — Following in the footsteps of her predecessor, U.S. Sen. Bob Casey, State Treasurer Robin L. Wiessmann is now a vocal advocate for credit union payday products.
Using TV talk shows and appearances before national public finance groups, the Pennsylvania Treasurer has been a frequent promoter of the “Better Choice” program of the Pennsylvania Credit Union Association.
“Better Choice is one of Treasurer Wiessmann's top priorities,” said a department spokeswoman in recounting several recent speeches promoting the payday alternative before meetings of the National Association of State Treasurers.
Earlier this month. the treasurer, who took the state job in April succeeding Sen. Casey, appeared on a local Sunday morning NBC show, “Pennsylvania Newsmakers,” discussing Better Choice. She was joined by Michael Wishnow, PCUA's senior vice president-communication and marketing.
“Bob Casey had long promoted Better Choice and we're glad Robin is equally supportive,” said Wishnow recalling that Sen. Casey, a Democrat, had often plugged the payday program as part of his duties before being elected to the Senate.
In a news release, Wiessmann noted that since the launch of Better Choice in October 2006, “1,661 loans have been made, totaling $869,149″ with the product available “at 179 branches of 62 credit unions throughout the state.”
This kind of 90-day product containing an 18% rate, a $25 application fee coupled with savings and counseling features represents a “lower-cost alternative to predator payday lenders that is helping Pennsylvania consumers become more financially savvy and begin to build wealth,” she said.
The news release went on to note that Wiessmann in the future would continue promoting Better Choice with “media events, news releases, and community outreach with more TV appearances in the works.”
Her next speech will be at the annual Treasury Management Conference of the National Association of State Treasurers in San Antonio Dec. 2-5 at the Hyatt Regency.
Meanwhile, PCUA announced that one of the state's largest CUs, the $601 million Clearview FCU of Moon Township will be offering Better Choice.
© Touchpoint Markets, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more inforrmation visit Asset & Logo Licensing.
