Members of Pennsylvania Credit Unions whose credit unions offer Better Choice loans have saved more than $12 million in fees since the program began in 2006.
The Pennsylvania Credit Union Association, organizer of the program, said that $16.7 million had been lent in the payday loan alternative product as well.
Since the program's inception, the association reported that 80 credit unions have participated in the program, offering the loans at 242 credit union locations across the Commonwealth. The program is a partnership between the PCUA and the Pennsylvania Treasury Department.
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