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News Now

CU System
Pennsylvania treasurer commends Better Choice loans
HARRISBURG, Pa. (7/10/08)--Pennsylvania Treasurer Robin L. Wiessmann issued a press release Tuesday commending the Pennsylvania Credit Union Association (PCUA) for winning a national award for the marketing of the Credit Union Better Choice program. The program, which provides a short-term loan alternative to payday lending, was developed through a public-private collaboration between the Pennsylvania Treasury Department and the PCUA (Life is a Highway July 9). "I applaud the staff at PCUA who work diligently to ensure that every Pennsylvania family learns how to make the better choice when seeking short-term loans,” Wiessmann said. “Even more importantly, PCUA has worked hard to promote the savings and financial literacy components of the program, which allow consumers to make an important investment in their futures.” The program won first place in the Best Community Relations Program category, and earned the PRO Best of Show. The awards were announced at a recent luncheon in Washington, D.C., during the Communications/Government Affairs Professionals Conference, sponsored by the American Association of Credit Union Leagues. Since the program’s launch in late October 2006, 72 credit unions with 193 locations have agreed to offer Credit Union Better Choice loans, with additional participants continuing to sign on, PCUA said. Among the participating credit unions, 50 made 5,706 loans totaling $2.7 million dollars in volume.


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