Archive Links

Consumer Archive
CU System Archive
Market Archive
Products Archive
Washington Archive
150x172_CUEffect.jpg
Contacts
LISA MCCUEVICE PRESIDENT OF COMMUNICATIONS
EDITOR-IN-CHIEF
MICHELLE WILLITSManaging Editor
RON JOOSSASSISTANT EDITOR
ALEX MCVEIGHSTAFF NEWSWRITER
TOM SAKASHSTAFF NEWSWRITER

News Now

CU System
N.H. editorial notes CUs payday loan efforts
CONCORD, N.H. (1/7/08)--A Friday editorial in the Concord Monitor notes that New Hampshire credit unions offer alternatives for consumers to standard payday loans. The editorial said that the New Hampshire banking department has urged credit unions and other lenders to do more to meet the needs of consumers by offering alternatives to payday lenders. Payday lenders charge high interest rates that can plunge people into long-term or even permanent debt. Credit unions and others lender have responded, although there are not enough alternatives to meet the demand for easy-to-get unsecured credit, the editorial stated. Credit unions in the state tend to set minimum loan amounts of about $1,000, and some limit membership to select employee groups such as government workers or employees of participating companies. However, other credit unions can serve any New Hampshire resident, the editorial pointed out. It directed readers to the New Hampshire Credit Union League’s website for a list of credit unions. The editorial also urges quick passage of New Hampshire House Bill 267, which would cap the interest charged on payday and auto title loans at 36%.
Other Resources

RSS





print
News Now LiveWire
Registration now open for @CUNA @WOCCU summer conference in Denver July 12-15 http://t.co/opq1jypsXL #ACUC #CUinDenver2015
13 hours ago
Emergency loans post- #Blizzard2015 offered by @ScientFCU in Conn. http://t.co/U9tIBzPOZV
14 hours ago
Did you get your spot in the @CUCB #CherryBlossom 10 Mile Run? Check lottery results here http://t.co/6rxT0osyWJ @CU4Kids @CMNHospitals
14 hours ago
@FamilyFirstFCU has implemented a grant program through the FHLB of NY to help first-time home buyers.
15 hours ago
#BREAKING: @federalreserve offers few new hints on rate-hike timing in policy statement http://t.co/lgZ6zZ1Vrr
16 hours ago