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NCUF grants 13K to assess Better Choice impact
HARRISBURG, Pa. (3/18/10)--The National Credit Union Foundation (NCUF) approved a $13,000 grant so the Pennsylvania Credit Union Association (PCUA) can conduct a Better Choice Impact Assessment.
The National Credit Union Foundation approved a grant for the Pennsylvania Credit Union Association to assess Credit Union Better Choice. Pictured are, from left: Joe Wambach, executive director, Pennsylvania Credit Union Foundation and REAL Solutions project coordinator; and John Kebles, REAL Solutions project manager. (Photo provided by the Pennsylvania Credit Union Association)
The assessment will measure how credit unions offering Credit Union Better Choice transition users into mainstream products and services. It also will help PCUA and Pennsylvania credit unions improve the Better Choice program’s viability for financial support from the state Treasury Department. The project will quantify the amount of money saved by each borrower as compared to traditional payday loans. It also will measure how users build savings, improve their financial stability and become mainstream financial service users, said PCUA (Life is a Highway March 17). NCUF project funds will support data processing activities and continue the presence of a REAL Solutions coach. REAL Solutions helps consumers with alternatives to avoid high-priced payday loans. The grant will be implemented in May and is expected to last one year.
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