Monday, January 28, 2008

Short term loan

Here is an initiative that can unite progressives and conservatives, as well as business and community leaders: helping the "unbanked" enter financial accounting, open checking and savings accounts, as well as in conjunction with financial institutions and community groups to develop and market products that work in the market untapped. This will allow to place their money in the pockets of individuals and economic growth. And it will not cost taxpayers a dime.
Whether Joe asked his dad for $ 500 to get it to the next paycheck or Jane standing in the line at a payday lender, it will need to be there because, even changing behaviour, does not mean no emergencies, and to destroy that cushion .

Just as was the original CU P2P lenders, we also have the original payday lenders [citation needed]. We simply were not as usurious.



Behaviour change is not required. People simply want to change that behavior. For those who do not have advanced so far, we have to do them harm, do not offer an alternative to the sharks.

Hey Brent - Your message here appeared on OSCU twitter in the flow - I think technically is not a violation of your TwitterFree Week ™. :)

But seriously, thanks to the bright light here. The information in the last paragraph 2 of got my attention - I had no idea it was this:

"Banks and credit unions can expand their efforts to increase access to transaction accounts, and alternatives to payday loans with terms attractive to unbanked and underserved. storefronts They have to compete in this business: More than 90% of nonbank alternatives are within one mile to the bank or credit Union power. "

Earlier this information, I had thought that Payday lenders, mainly working in areas not serviced by banks and CUs. Obviously I was wrong.
http://www.payday-loans-advisor.com/
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