Brad Beal
“With payday loans, people get trapped. Every payday they’re broke. You can’t get out… We wanted to offer our members an opportunity to break the cycle.”
Nevada Federal Credit Union president Brad Beal wants to help members of his credit union break out of the cycle of debt by offering a payday loan alternative…
The alternative is called ADVANCpay and details about it can be found in our earlier post about the Nevada Federal Credit Union.
In an article by Phoebe Sweet, who covers banking and marketing for In Business Las Vegas and the Las Vegas Sun, Beal was also quoted as saying:
“We’re trying to help them get out of the payday loan cycle… We thought, we need to step in here and offer this at a lower cost. They need to have a means to get out of the cycle.”
Brad Beal is president of Nevada Federal Credit Union.
Source: Credit Union Offers Payday Lending Alternative by Phoebe Sweet (In Business Las Vegas)
The “cycle” that Mr. Beal speaks of is the debt treadmill.
Recent Posts:
- 07/12/2011: Expanded Contact Info Page
- 06/11/2011: Internet Crime Complaint Center (IC3)
- 05/18/2011: Added Full Contact Info Page
- 05/15/2011: Payday Loan Site Traffic Comparison Update – May 2011
- 05/10/2011: IP Ban for Ratings Abuse
Random Posts:
- 02/24/2008: Christopher Lewis Peterson and Steven M. Graves
- 01/22/2008: P2P Lending
- 02/02/2007: Paul Belanger
- 06/16/2006: Payment Plan with Creditors
- 01/14/2007: Cynthia Smith
a WordPress rating system