Six Credit Unions Selected to look for Payday Loan Alternatives

Six Credit Unions Selected to look for Payday Loan Alternatives

NEW YORK–( COMPANY WIRE )–Nov. 10, 2004–JPMorgan Chase & Co. as well as the nationwide Federation of Community developing Credit Unions have actually selected six credit unions in five states to produce and develop options to high-cost “payday” loans for consumers.

Beginning year that is early next the lender will continue to work utilizing the credit unions in California, Illinois, Louisiana, ny and Ohio to simply help low-income customers whom now utilize short-term loans to transport them over until their next paycheck. These customers are faced with high fees and rates for loans as short as a week or two with few choices.

” by way of an approval that is rigorous, we selected these credit unions for their strong documents of enhancing the communities they provide,” stated Lewis Jones, president regarding the J.P. Continue reading “Six Credit Unions Selected to look for Payday Loan Alternatives”