Credit union swaps loans that are payday friendlier offering

Credit union falls loan that is controversial after iWatch News investigation

Introduction

A Utah-based loan provider showcased prominently within an iWatch Information research of payday financing at credit unions has stopped offering the controversial loans and it is alternatively providing a far more consumer-friendly item.

Hill America Credit Union had provided its 320,000 member-owners a “MyInstaCash” loan that topped down at an 876 % yearly rate of interest for the $100, five-day loan. (more…)

Read More