In discussing the “high cost” of payday loans AND the similar costs of credit union “alternatives,” no one has yet considered the possibility-at least among the articles I’ve read–that the market is speaking.  The loans are as cheap as they can be.  From the story:

“The reality is that even our employees occasionally seek payday loans, and we want them to have the best alternative in the marketplace,” said Scott Simpson, president of the Utah League of Credit Unions.

But the Coalition of Religious Communities wants credit unions to pull these types of loans.

“Credit unions that are supposed to be looking out for the people are offering payday loan products to their customers that are between 254 and 318 percent interest,” said Linda Hilton, with the Coalition of Religious Communities.