Implementing a small dollar loan program at your credit union has numerous benefits. But what about the possible negative of being viewed as a predatory lender?
Credit unions offer many types of loans, most of which cap well below an 18% APR. Read on to learn why higher interest rates make sense for small dollar loans.
The American financial regulatory landscape is preparing for massive changes to small dollar lending programs. What does this mean for your credit union?
Most credit union small dollar loan programs assist people who are too cash-strapped to make large purchases. Can quick loans convert short-term borrowers into traditional ones?
Quick click loans for credit unions bring with them several forms of risk. Does the risk outweigh the reward for credit unions in the short-term lending marketplace?
Most prominent online resources say that it takes 1–3 days to receive funding from a quick loan. However, it can be accomplished in as little as 60 seconds with QCash.
Small dollar loan programs from credit unions can help their members during difficult times. Learn more to find out how you can make this service known to your credit union community.
Regardless of obstacles, credit unions should still consider offering small dollar loan services to their members. While the quick loan industry’s reputation was tarnished by predatory lenders, the service itself is increasingly necessary.
Regardless of your political leanings, one thing is clear: the shutdown is a serious threat to hundreds of thousands of American families. Fortunately, credit unions are well-positioned to assist members experiencing a loss of income.