From left, Jerry Barnett, president/CEO, LincOne FCU; Kenn Miller, president/CEO, MembersOwn CU; Bob Torell, president/CEO, University of Nebraska FCU; State Sen. Amanda McGill; Chris Nielsen, president/CEO, Nebraska State Employees CU; Ken Bradshaw, president/CEO, Liberty First CU, and Dale Springer, president/CEO, Peoples Choice FCU.

Members of six credit unions in Lincoln, Neb., will have another way to meet their need for short- term, low-dollar loans after their CUs joined together to start offering an alternative to more expensive payday loans offered elsewhere.

“Members will now be able to apply and qualify for a $500 small loan with an annual percentage rate (APR) of 18% with a payback term of 60 days in a fast and convenient way without the hassle of a credit report,” said Dale Springer, CEO of the $70 million Peoples Choice FCU.

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