Thursday, April 16, 2009

Interesting article on Payday Lending

A reporter from the RJ called last week asking for some help with a story he was writing about credit unions getting into the payday lending game. Actually many credit unions - like Nevada Federal - don't offer the traditional payday advance product because we don't change (or even have) the annual percentage rate (APR) with the amount borrowed like most payday lenders. Our payday advance product comes with a set fee and only varies if the member does not have direct deposit... and it's only ten bucks difference.

Nonetheless, we were happy to provide the reporter some information and we referred a member over to him to be interviewed for the article. Check out the article at the link below:

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