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Banks offer lower cost payday loans and credit unions to the poor
Banks and credit unions test ways to reach low income communities with affordable services. Wells Fargo provides small payday loans up to 200 dollars for verified customers and direct deposits, at about five dollars per hundred borrowed. Florida Central Credit Union plans to open a check cashing and payday loan service in Tampa in partnership with THAP to offer loans around 25 percent and free check cashing after joining the credit union.
MENTIONED IN THIS ARTICLE
United States
Wells Fargo Bank
San Francisco
California
Wells Fargo
Florida Central Credit Union
Florida Central
Tampa Hillsborough Action Plan
THAP
Chet Laney
Dori Perrucci
THAF
Tampa
Ed Gallagly
Gallagly