INFLUENCE: Credit union swaps pay day loans for friendlier offering

INFLUENCE: Credit union swaps pay day loans for friendlier offering

Credit union falls controversial loan offering 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 attempting to sell the controversial loans and it is alternatively providing a more consumer-friendly item.

Hill America Credit Union had provided its 320,000 member-owners a “MyInstaCash” loan that topped down at an 876 per cent annual rate of interest for a $100, five-day loan.

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