National Federation Rolling Out Payday Loan Alternative

Organization to offer loan-savings program to New York CDCUs.

By David Morrison | September 16, 2011 at 07:10 AM

The National Federation of Community Development Credit Unions said it will unveil a new program Monday that will offer allow New York CDCUs to offer an alternative to the short-term, high-interest “payday” loans.

Dubbed “Borrow and Save”, the program will offer “small, non-predatory loans” along with a savings opportunity, the federation said.

The federation plans to unveil the program at a news conference Monday morning in New York City.

NOT FOR REPRINT

© 2025 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.

1 Ezra Eckhardt Exits as CEO of Spokane Teachers Credit Union

2 ATM Solutions Inc. Countersues Ohio’s Largest Credit Union for $29 Million

3 Video Shows Suspects Celebrating After Michigan Credit Union ATM Theft

4 20 Career Moves Include New Chief Lending Officer at Floridacentral

5 16 Credit Union Branches Adjacent to the Nation’s Priciest Zip Codes

Consulting
Consulting Top Consultants 2025
June 26, 2025 - New York

Consulting Magazine identifies consultants that have the biggest impact on their clients, firms and the profession.
More Information
Real Estate
GlobeSt. ELITE Women of Influence (WOI) 2025
July 21, 2025 - Denver

GlobeSt. Women of Influence Conference celebrates the women who drive the commercial real estate industry forward.
More Information
Real Estate
GlobeSt. Multifamily Fall 2025
October 15, 2025 - Los Angeles

Join the industry's top owners, investors, developers, brokers & financiers at THE MULTIFAMILY EVENT OF THE YEAR!
More Information

Federal, State Police Warn of Rising Trend of ‘Bank Jugging’ Targeting Credit Unions & Banks

By Peter Strozniak | May 16, 2025

Criminals follow and rob victims after making branch or ATM stops; law enforcement urges vigilance.

Federal, State Police Warn of Rising Trend of ‘Bank Jugging’ Targeting Credit Unions & Banks

America’s Credit Unions Urges the Protection of CDFI Fund, Credit Union Tax Status as Budget Reconciliation Continues

By Michael Ogden | May 16, 2025

While the tax threat appears to have subsided, the lobbying efforts have not.

America’s Credit Unions Urges the Protection of CDFI Fund, Credit Union Tax Status as Budget Reconciliation Continues

Mountain America to Open Another Branch in Arizona

By Jim DuPlessis | May 16, 2025

The Salt Lake City credit union had 10 locations in the state at the end of last year.

Mountain America to Open Another Branch in Arizona

BCU & Blend: Driving Digital Success & Boosting Member Conversions link

Case Study

Sponsored by Blend

BCU & Blend: Driving Digital Success & Boosting Member Conversions

Many credit unions struggle with outdated digital account opening processes, creating friction as member expectations evolve. Learn how Baxter Credit Union (BCU) confronted this challenge by leveraging cutting-edge technology to revolutionize its digital experience--driving significant growth in new account openings and account funding.

Browse More Resources ›

Physical Security for Credit Unions: A Clear Path to Modernization and Growth link

White Paper

Sponsored by Genetec

Physical Security for Credit Unions: A Clear Path to Modernization and Growth

Is your credit union still relying on outdated physical security systems that limit scalability and create siloes in your operations? Download this white paper to explore a clear path to a more resilient and agile security framework that enhances safety, streamlines operations, and ensures compliance.

Browse More Resources ›

5 Challenges Facing Today's Community Banks and Credit Unions--and How To Solve Them link

Guide

Sponsored by nCino

5 Challenges Facing Today's Community Banks and Credit Unions--and How To Solve Them

Community banks and credit unions face growing pressure to meet evolving member expectations. This guide explores the five most pressing challenges--and how to address them with practical, scalable solutions.

Browse More Resources ›