May 2019
We're part of a movement. Are you in?!
A movement is building….or else it should be! The second largest credit union in the country, State Employees’ Credit Union of North Carolina (SECU), delivers a salary advance solution to help break the cycle of payday lending. 

SECU has been providing an alternative since 2001 and has 237,000 outstanding salary advance loans and approximately 100,000 regular program users. Perhaps even more notable, the accompanying cash account currently has $54.5 million in total balances.
Last year U.S. Bank, the 5 th largest bank in the country, launched it’s simple loan to cover immediate cash flow needs. It allows for loans up to $1000 with 3-monthly payments.

The U.S. Bank Simple loan is very similar in concept to SECU’s salary advance product, but each designed differently to meet their market needs. If we needed proof that small dollar lending is a consumer need and can be sustainably delivered by financial institutions, you have it!
U.S. Bank Locations
At QCash Financial we believe that we can change the current short-term credit market through competitive market forces to drive prices down and help all consumers.  Financial health begins with providing a means to achieve stability or broad access to short-term credit.

Join the movement aimed at building financial capacity, stability and resilience. Banks and credit unions have an opportunity to make a difference in the lives of their consumers. We're here to help.

Industry Updates
Revisiting small loans rules crucial to maintaining access to credit for vulnerable consumers.
Congress recently held a  hearing  on the small-dollar loan industry and how to protect consumers from predatory lenders. This is a timely discussion, and one that demands historical context. In considering reforms, lawmakers should take care not to restrict access to credit for the most vulnerable Americans...

The Hill explains in this article by Liam Sigaud, Contributor
Featured Blogs
How does a credit union overcome the potential brand implications from implementing a small dollar loan program?
With years of poor regulation, interest rates in some states still hover near 700 percent. I explain how the game has changed for the better. #FinancialWellness #SmallDollarLoans

The member segments most affected by credit union
small dollar loan programs.
Four in ten American adults are unable to cover an unexpected $400 expense; small financial setbacks have huge long-term consequences. How can you help?

#SmallDollarLending protects the vulnerable from predatory lenders.
Upcoming Events
QCash Financial at NAFCU

Will you be at the NAFCU Annual Conference and Solutions Expo in New Orleans June 18-21? We hope to see you! Register here.  

Sales Executives, Jeff Terrell and Jessica Perschon , will be attending. Make sure to connect with them at Booth 612 and learn about building a bigger, better credit union!
 QCash at MCUL & CUSG
2019 Annual Convention & Exposition

We're so excited Kevin Foster-Keddie, WSECU's CEO and QCash Financial board chairman, will be a panel member at the Annual Convention hosted by Michigan Credit Union and CU Solutions Group in Detroit on June 7 to discuss serving the underbanked and millennials in the small dollar lending space.

Congrats, Kevin! More info.  
Ben Morales at Constellation
Developers Conference

I will be with fellow fintech partners and credit unions at Constellation DP's Launch 2019 on June 5! The event offers an exciting chance to get the latest in the development of digital services.

Empowering financial institutions to improve the financial wellness of their communities.
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