Pay day loan alternative CUSO XtraCash saves CUs and members $2.8 Million

Pay day loan alternative CUSO XtraCash saves CUs and members $2.8 Million

Pay day loan alternative CUSO XtraCash saves CUs and members $2.8 Million

Contact: Lon NeofotistManaging DirectorXtraCash, LLC(913) 310-9292Lneofotist@xtracashllc.com

Lenexa, Kan. (March 3, 2011) – XtraCash, LLC, a lending that is payday CUSO, announced their partner credit unions and people spared over $2.8 million, between 2007 and year’s end 2010.

Since its March 2007 launch in 2 branches, XtraCash processed almost 24,000 loans with a total loan valueof over $9.1 million. XtraCash has exploded to provide 23 branches based in Kansas, Missouri and Florida, andcontinues its intends to expand through the U.S. where permitted by legislation.

“An estimated 30 million U.S. households are either unbanked or underbanked, depending on alternativefinancial solutions. A majority of these calculated 60 million grownups are credit union users,” said Lon payday loans Chipleyerville Florida Neofotist,XtraCash’s handling director. “As a credit union owned CUSO XtraCash is important for credit unionmembers. It offers an alternative that is affordable as evidenced by the total $2.8 million in cost savings credit unionsand their users took advantageous asset of because the 2007 XtraCash launch.”

Credit union partners find value within the XtraCash payday loan alternative system, since they can helpmembers bust out of this storefront payday lender’s payday that is high-interest period by providing financialeducation and help. Additionally, credit unions can offer lower-cost loans that are short-term users, andmotivation is enhanced by the option of additional discounts whenever people take part in a financialeducation system. Continue reading “Pay day loan alternative CUSO XtraCash saves CUs and members $2.8 Million”