Pay less, save more with QuickCash
Payday loans are a difficult proposition with people in financial difficulties. You cannot do without them and yet, you’d rather be without their cutthroat rates. So how do you reconcile to this situation? If you live in Hampton Virginia, then you could probably check this option out. News has it that the $1 billion Langley Federal Credit Union, based in Hampton Virginia, recently developed a low-cost payday loan alternative. This alternative is supposed to have netted its members over $230,000 in savings, according to the Credit Union Times.
Called QuickCash, this alternative offers members emergency loans at a fraction of the cost of a traditional payday loan. So, if a two week loan of $500 from a traditional padyay lender costs you more than $75 to borrow, QuickCash, offers the same product at just 18%, or a little over $3.00 for the same loan. Langley FCU uses a common bond field of membership, offering this product to specific businesses, organizations and associations in the Hampton area.