| Xtra Cash |
|
|
|
|
You folks our faithful readers already know how we at Molifeney feel about the Pay Day Loan industry. Pretty much they are the bottom feeders of the financing world, just a shade above going to the Mob for money. Check out the previous article entitled Pimpin on an Whole New Level for background.
We have come across a program that may serve as an alternative to the Pay Day Loan shops. It's called Xtra Cash and it was introduced in March of 2007 to offer short term loans for those folks that find themselves in a bind. Before I go into the details of the program, let me once again preach on the virtues of having an emergency savings account with at least $500 dollars in it. Setting this account up is the first and most important step to take, believe me it will save you again and again. The Xtra Cash program gives people the opportunity to borrow money on a short term basis. Currently, you have to be a member of Mazuma Credit Union to apply, but Xtra Cash is expanding to other credit unions in the Kansas City area. Below are some quick highlights of the program. For more information contact Lon Neofotist at (913)310-9292 or email him at This e-mail address is being protected from spam bots, you need JavaScript enabled to view it
Missouri state average is around $18 per $100 borrowed. XtraCash Standard Rate is $15 per $100 borrowed. XtraCash 1 Discount Rate is $13 per $100 borrowed. XtraCash Both Discount Rate is $10 per $100 borrowed. (Both payback from a credit union account AND participation in financial education.) So this means… $500 loan would be $90 fee @ state average store. $500 loan would be $50 fee with XtraCash's Both Discount Rate – a savings of $40 per loan.
Set as favorite
Bookmark
Email This
Hits: 186 Comments (0)
 Write comment
|
Subscribe to this comment's feed
| Next > |
|---|
