MANHATTAN BEACH, Calif. — If the executive team at Kinecta Federal Credit Union had any reservations about attracting new members from its new payday lender CUSO, it's too late now.
As of November month-end, 12,000 Nix customers have opened Kinecta accounts.
According to Randy Dotemoto, senior vice president for Kinecta Alternative Financial Solutions, most new members joined to take advantage of the group's redesigned payday loan product.
Continue Reading for Free
Register and gain access to:
- Breaking credit union news and analysis, on-site and via our newsletters and custom alerts.
- Weekly Shared Accounts podcast featuring exclusive interviews with industry leaders.
- Educational webcasts, white papers, and ebooks from industry thought leaders.
- Critical coverage of the commercial real estate and financial advisory markets on our other ALM sites, GlobeSt.com and ThinkAdvisor.com.
Already have an account? Sign In Now
NOT FOR REPRINT
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
