Ig1 Microfinance in the US
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The document discusses the predatory nature of payday loans and their extremely high annual interest rates, often over 3500%. It notes that payday loans often do not help solve financial problems and can negatively impact credit scores. The document proposes that community development credit unions can provide more affordable alternatives to predatory lenders by offering banking services like savings accounts, loans, and checking accounts owned and operated by community members.
![Microfinance in the U.S. ,[object Object],[object Object],[object Object],Jeremiah Tillman & Ron Chin May 28 th , 2009 IgniteChi.org](https://image.slidesharecdn.com/ig1-microfinance-090601181645-phpapp01/85/ig1-microfinance-in-the-us-1-320.jpg)
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Ig1 Microfinance in the US
- 2. Predatory financial institutions IgniteChi.org
- 6. How Do Payday Loans Work? IgniteChi.org
- 7. How Do Payday Loans Work? IgniteChi.org
- 10. What can be done? IgniteChi.org
- 11. Asset Based Community Development – Credit Unions IgniteChi.org
- 12. Who Owns a Credit Union? IgniteChi.org
- 13. Who Runs a Credit union? IgniteChi.org
- 17. How Competitive are Credit Unions? Very Competitive IgniteChi.org
- 18. Is Your Money Safe at a Credit Union? IgniteChi.org
- 19. In Conclusion… Community Development Credit Unions www.cdcu.coop IgniteChi.org