2015
12/24

Category:
Pay Day Loans

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New Program Launched to Counter Payday Loans

SPRINGFIELD, Mo. — Theres a new weapon in the fight against poverty in our area.

CU Community Credit Union announced today its rolling out its Fresh Start Loan Program in Springfield. It will serve as an alternative to traditional pay-day loans.

Judy Hadsall, president of CUCCU explains how it works. There are four pieces to this. One, now theyll be able to do short-term loans with us. The second one is were going to have a consolidation loan where the people who have gotten into trouble, well be able to work with them and consolidate those and get them out of the payday loans.

The other two parts of the plan include credit-builder loans and used-car loans.

The services will be available in both Greene and Christian counties.

The program is being funded with a $2 million grant from the US Treasury.

More about how the program works

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