Archive Links

Consumer Archive
CU System Archive
Market Archive
Products Archive
Washington Archive

News Now

CU System
Budget impasse prompts changes to Better Choice
HARRISBURG, Pa. (8/3/09)--Pennsylvania’s budget impasse has prompted the Pennsylvania Credit Union Association (PCUA) and the state treasurer to make temporary changes to the Credit Union Better Choice program to help state employees facing payless paydays. PCUA President/CEO Jim McCormack and Pennsylvania State Treasurer Rob McCord issued a letter to 82 credit unions participating in the program. The letter asks credit unions to allow state employees to apply for a separate Better Choice loan up to a maximum of $500 on each regular payday during the impasse (Life is a Highway July 31). Credit unions also are asked to forgo the deposit of an additional amount equal to 10% of the loan to an account in the employee’s name when making second Better Choice loans, and waiving the regular application fees for second and subsequent Better Choice loans to state employees. To qualify for the Better Choice loan, the state employee must be eligible for credit union membership and have an account. Borrowers are required to repay their 90-day loans in full before being eligible to take out subsequent loans.
Other Resources

RSS print
News Now LiveWire
#FreeGasFriday courtesy of @tvfcu, TN #creditunions http://t.co/wDRFYJVlpz
2 hours ago
If you were unable to watch or attend @cuna 's @thehill Hill forum on Wed., you can now watch the archived version: http://t.co/FhUnp7HbU8
3 hours ago
Time is running out. If you haven't taken the #NewsNow readership survey, please click here now: http://t.co/4Gp6C2Wa4o
4 hours ago
African financial inclusion possible with mobile money: @IMFNews study http://t.co/0V5DTQToxY
4 hours ago
Louise Herring's birthday is Saturday. 105 years later, her legacy lives on through her kids http://t.co/oMqGADmo0d http://t.co/T3NmS9NqEY
5 hours ago