The best ideas from the magazines pages.
Readers continue to solicit ideas, suggestions, ideas, and in this special issue of journal, Credit Union offers some of the best in our pages during the year 2000. New sales offices in strategies outside the annual meetings in this issue, the Journal provides all this and much more.State Employees Credit Union, this is one of the first credit cooperatives out of the box with a loan service pay, no need of their members with a low-cost alternative to the so-called “predatory” lending .
The new program, as other unions are ready confrontation with ideas for the establishment of low-cost alternative to costly Subprime mortgage banks, loan companies pay check and kosher. Jim Blaine, president of the second credit nation European Union and a critic of predatory lending services, said earnings before the program was developed by the trade union committee credit November 16 and will be put in place after the first of the year.
Under the plan SECU is a short-term unsecured credit to its members a rate of 11.75%, slightly above 10.75% for loans unsecured steadily, but significantly below 400% to loud and often responsible for the registration kosher. Based on experience, SECU is expected that loans for approximately 15 days on average. There is a fee of about $ 2.50 for a maximum of $ 500 to be ready in the framework of Blaine. He expects little or no charge-offs to loans, because virtually all credit institutions of the European Union members pay them directly from Credit Union.