Mark Patton
“Shipmates don’t let shipmates use predatory lending.”
According to an article in Navy Compass, Captain Mark Patton believes that members of our armed forces should protect fellow members from payday loans…
In the Commander’s Corner for August 04, 2006, Rear Admiral Len R. Herring suggests that military members and their families should look inward first and then to credit unions, not payday lenders:
“If you are truly having a financial emergency, try seeking help from the Navy and Marine Corps Relief Society first. Quite often they can provide just what you need in terms of a loan and budgeting to get you through the emergency without getting you deeper in debt. Another option would be to ask for a loan from your credit union. Credit unions are non-profit organizations and offer reasonable loan rates. Both of these options are far less expensive than a visit to a payday lender.”
Captain Mark Patton is the leader of Rear Admiral Herring’s task force on predatory lending.
Source: Commander’s Corner (Navy Compass)
If you would like to follow the Commander’s advice, please visit Interest Free Loans for Military Personnel and Credit Unions in our Payday Loan Alternatives category.
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