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    Small Loans from Montana CUs See 26% Increase

    Montana Credit Unions for Community Development (MCUCD) recently reported a collective increase of small loans of over 26% in the fourth quarter of 2010 from credit unions they were tracking. MCUCD attributes the growth to a state-wide public awareness campaign it ran last year to educate the general public in Montana about the availability of small loans at credit unions. The campaign was made possible in large part by a National Credit Union Foundation (NCUF) grant though the REAL Solutions program.

    The growth in the 4th quarter of 2010 is part of a continuing trend. MCUCD reported that loans during the 4th quarter increased by 26.7% from the third quarter with a similar increase in the 3rd quarter (a 24.4% increase).

    “Congratulations to Montana’s credit unions for these impressive results,” said Lois Kitsch, NCUF’s REAL Solutions National Program Director. “By offering consumers these small loans, you are helping more people avoid – or get out of – the payday loan debt trap.”

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    Here is the PSA for television:

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