With a range of emergency requests, government and IRS employees are among the highest users of Mazuma Credit Union’s two-year old payday loan alternative.

The XtraCash loan was launched in March 2007 by Mazuma, which also helped to form XtraCash LLC, a CUSO created to provide payday lending alternative services to credit unions. The loans typically range from $100 to $500 in increments of $25, depending on state laws. Mazuma charges a $15 fee for every $100. Payday loan users receive a $2 per $100 discount if they pay from a Mazuma checking or savings account and an additional $2 per $100 discount if they enroll in the credit union’s educational program.

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