DAYTON, Ohio (5/2/11)--Ohio credit unions' Stretch-Pay short-term loan program is featured as a solution to quick-fix and expensive payday lending schemes in Alive Magazine's Spring issue. The article touts the benefits of the program and tells how it got off the ground. Local credit unions in the Dayton, Ohio area--Day Air CU of Kettering and Wright-Patt CU of Fairborn--piloted the program after a group of persistent students in a management class at the University of Dayton (UD) were asked to develop workable alternatives to the cash stores. The course instructor, Brother Victor Forlani, Marianist-in-residence at the university's School of Business, worked with the Fitz Center for Leadership in Community at UD. Eight years ago a city councilman had requested the center and UD look at the payday lending problem in the area. "We thought credit unions might offer a potential solution because of their nonprofit business model," he said. The credit unions expressed an interest but wanted the students to develop a workable business plan. After several proposals, the students came up with the idea of targeting people who were tempted to take out loans but who were also potential credit union members--thus creating a new line of business, instead of a new business. The article also talks about the impact the loans have made--in 2009, credit unions made more than 86,000 Stretch Pay loans and borrowers developed healthy financial habits.