Six Credit Unions Selected to look for Payday Loan Alternatives

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

Starting year that is early next the financial institution will be able to work using the credit unions in Ca, Illinois, Louisiana, nyc and Ohio to assist low-income customers whom now utilize short-term loans to hold them over until their next paycheck. Continue reading