IMPACT: Credit union swaps loans that are payday friendlier offering

Credit union falls controversial loan providing after iWatch News investigation

Introduction

A Utah-based loan provider showcased prominently within an iWatch Information research of payday lending at credit unions has stopped offering the controversial loans and it is rather providing a far more consumer-friendly product.

Hill America Credit Union had provided its 320,000 member-owners a “MyInstaCash” loan that topped down at an 876 per cent annual interest for the $100, five-day loan. Continue reading