The above PSA from Montana Credit Unions for Community Development has been playing state-wide on broadcast television and radio starting last month until the end of October. What’s it all about?
Too many Montanans end up paying too much for small, short term loans … they don’t know that their credit union offers an alternative. We’ve developed a public awareness campaign to promote the fact that all credit unions make small loans (on a case-by-case basis and typically without advertising).
Funding for the campaign came from a REAL Solutions grant this year.
The coverage has been great so far. For example, the campaign was recently featured in news stories on a controversial payday lending law in Montana :
Without payday lenders, where would low-income borrowers turn?
Tracie Kenyon, president and CEO of the Montana Credit Union Network, said credit unions have been offering members small, unsecured loans at rates comparable to other unsecured loan rates. The Missoula Federal Credit Union’s website currently advertises an 18 percent rate on payday loan alternatives.
MCUN’s Small Loans Campaign will run public service announcements through October on TV and radio. Kenyon said funding for the campaign comes from the National Credit Union Foundation, not Montana credit unions or the MCUN.