APPLETON, Wis. вЂ” This city of 70,000 has five McDonaldвЂ™s franchises, three Pizza Huts, four Starbucks stores вЂ” and 19 cash advance shops, brightly lighted storefronts with names like EZ Money and Check towards money that provide two-week loans without credit checks.
Peggy Truckey, 53, understands the attraction. Final she owed nearly $1,300 to four of those stores, and was paying about $600 a month in finance fees alone year. вЂњI thought I became likely to need certainly to simply take an extra task simply to pay from the interest,вЂќ Ms. Truckey stated.
Then she heard of a new program that is nonprofit away from a Goodwill thrift shop, one of many hundred lower-cost pay day loan items that are increasingly being tried by credit unions all over nation. Continue reading →