Pennsylvania Credit Unions Provide Payday Lending Alternative Cash-advance companies, also referred to as payday loan providers, provide loans to working customers whom need instant money before they get their next paycheck. Customers offer a post-dated check or electronic bank checking account information as security for the loan. The annual percentage rate (APR) of interest for a 14-day advance of $100 or $200 can be 460 percent at a payday lender. There are many more than 23,000 cash advance outlets The PCUA created Credit Union Better preference (CUBC) and offered it to its member credit unions, that have the possibility of supplying it to present as well as other qualified users. The CUBC item is an installment that is short-term of $100 to $500 for the maximum term of ninety days. There are not any rollovers and extra loans aren’t allowed through to the first loan is paid down. At the most 18 % APR and a $25 application charge may be charged. Employment verification along with other loan choice requirements are decided by the credit union. […]