Credit Union “alternatives” called out
August 4, 2009 | USA Today, alternatives, industry | Comments (0)USA Today has another story today credit union short-term loans:
•The loan cost. Some credit unions claim that they charge 0% interest on their short-term loans. However, application and other fees can push the effective APR into the triple digits, according to the NCLC, which has recommended capping the annual interest rate for payday loan alternatives at 36%, including fees.
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