PHOENIX (3/11/16)--Arizona consumers needing access to quick loans for small amounts would be wise to look at credit unions over payday lenders, a TV consumer watchdog advised.
In a recent “Let Joe Know” segment on KNXV-TV, Joe Ducey tackled the topic of high-interest payday loans.
Ducey noted a number of state credit unions--including Landings CU, Tempe; Banner FCU, Phoenix; First American CA, Casa Grande; MariSol FCU, Phoenix; and Pinal County FCU, Casa Grande--that offer short-term, small-dollar loans with lower interest rates than those of payday lenders.
"You don't have to take advantage of somebody just to ensure that they repay their loan," Adiranne Rexious of Landings CU told Ducey. "If you make a loan for a reasonable amount, for reasonable terms, you're going to get repayment."