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Do Ohio credit unions offer cheaper short-term loans?

March 1, 2008 | Ohio, Springfield News Sun, alternatives, industry, media coverage | Comments (0)

The story below describes how credit unions in Ohio are getting into the short-term loan business.   One credit union is offering an 18% loan, BUT with a $35 sign-up fee.  The reporter didn’t bother to calculate the total cost of that type of loan compared to a payday advance.  Lisa Ferguson of Checksmart Financial, a CFSA board member company, is quoted giving the industry point of view.   

http://www.springfieldnewssun.com/hp/content/oh/story/news/local/2008/03/01/sns030208loans.html