CUs Seek To Beat Payday Lenders At Their Own Game: Pennsylvania CUs Offer 'Better Choice'...

HARRISBURG, PENN. -- A joint effort between the Pennsylvania Credit Union Association and the Pennsylvania Department of Banking to position credit unions as a solution to the growing problem of payday lending practices is gaining momentum.

In March, Berks Community FCU in Pottsville and PA Healthcare CU in Sewickley became the 46th and 47th credit unions to join the Better Choice Program, developed by the PCUA to help low and moderate-income families manage their finances and meet their financial needs without resorting to high-cost products such as payday loans.