APPLETON, Wis. — This city of 70,000 has five McDonald’s franchises, three Pizza Huts, four Starbucks stores — and 19 loan that is payday, brightly lighted storefronts with names like EZ Money and Check towards money that provide two-week loans without credit checks.
Peggy More hints Truckey, 53, understands the attraction. Final year she owed almost $1,300 to four of these shops, and had been spending about $600 30 days in finance costs alone. “I became thinking I had been likely to need to take an additional work in order to spend from the interest,” Ms. Truckey stated.
Then she heard of a brand new nonprofit program operated away from a Goodwill thrift shop, one of many hundred lower-cost cash advance products which are increasingly being tried by credit unions round the country. (mais…)
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