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Studies have shown customers prefer longer and cheaper ‘payday’ loans from credit unions

Studies have shown customers prefer longer and cheaper ‘payday’ loans from credit unions

Affordable temporary borrowing by way of a credit union gets the possible become a good way of diverting borrowers far from high price loan providers and present them welcome freedom on how to repay in accordance with a brand new report.

Can loan that is payday be affordable and viable?, that has been funded by Friends Provident Foundation while the Barclays Community Finance Fund and generated by The Financial Inclusion Centre, assessed a pilot “payday loan” product offered by London Mutual Credit Union over year.