Credit unions participating in the Credit Union Better Choice program have made almost 15, 000 loans to consumers seeking an alternative to higher cost payday loans, according to the Pennsylvania Credit Union Association.

"As many Pennsylvanians feel squeezed in our rough economy, the ongoing usage of the Credit Union Better Choice program indicates that consumers need access to low-cost short term loans. I'm pleased that they can turn to a credit union to fulfill that need in a fairly priced way," said Jim McCormack CEO of the PCUA.

Since the program's inception, 79 credit unions with 211 locations have agreed to offer Credit Union Better Choice loans, with additional participants continuing to sign on. From the participating credit unions, nearly 15,000 loans totaling $6.8 million dollars in volume since its inception in October, 2006, the association reported.

"Pennsylvania's families feel the effects of the recession and should have quick access to reasonable and fair loans," said Pennsylvania Treasurer Rob McCord. "In this new era of responsibility, consumers should be able to use loan products that will help them make ends meet-and also pay dividends into the future. Better Choice does just that by pairing short-term loans with savings and financial education."

The Pennsylvania Treasury Department underwrites part of the Better Choice program.