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 payday financing alternative CUSO, announced their partner credit unions and people conserved 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 having a loan that is total over $9.1 million. XtraCash is continuing to grow to provide 23 branches situated 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, counting on alternativefinancial solutions. A majority of these calculated 60 million grownups are credit union people,” said Lon Neofotist,XtraCash’s handling director. “As a credit union owned CUSO XtraCash is important for credit unionmembers. It offers an inexpensive alternative, as evidenced by the total $2.8 million in cost cost cost savings credit unionsand their people took benefit of considering that the 2007 XtraCash launch.”

Credit union partners find value when you look at the XtraCash payday loan alternative program, simply because they can helpmembers bust out of this storefront payday lender’s high-interest pay day loan period by providing financialeducation and help. Continue reading “Pay day loan alternative CUSO XtraCash saves CUs and members $2.8 Million”