Cooperative Credit: How Community Development Credit Unions are Meeting the Need for Affordable, Short Term Credit

Publication Date: May 2007

Publisher: Woodstock Institute (Chicago, Ill.)

Author(s): Marva Williams

Research Area:

Keywords: Consumer protection; Community economic development; Payday loan (PDL)

Type: Report

Coverage: United States

Abstract:

This report summarizes an 18-month evaluation of the affordable payday loan alternative products offered by six community development credit unions. In addition to describing loan activity, the report identifies the financial and operational factors that account for the program's success.