TUCSON, Ariz. — Adopting a novel approach to payday lending, the $1.1 billion Arizona State Credit Union is partnering with a Tucson health care employer to help its workers "break the debt cycle" to payday shops.
"This is kind of a new idea in which one employer has come to us for assistance," explained Paul Stull, senior vice president-marketing at Arizona State which plans to offer $750 "FlexCash" loans to workers at University Medical Center Foundation Aug. 1.
The foundation, a nonprofit with close ties to the University of Arizona and a medical complex employing 3,300, approached the CU earlier this year about employees getting into difficulty using payday firms and overextending loans on an in-house "Emergency Assistance" program.
Complete your profile to continue reading and get FREE access to CUTimes.com, part of your ALM digital membership.
Your access to unlimited CUTimes.com content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Breaking credit union news and analysis, on-site and via our newsletters and custom alerts
- Weekly Shared Accounts podcast featuring exclusive interviews with industry leaders
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the commercial real estate and financial advisory markets on our other ALM sites, GlobeSt.com and ThinkAdvisor.com
Already have an account? Sign In Now
© 2025 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
