Some credit unions will also be involved with payday advances, short-term loans with a high prices.
By Paige Austin , Patch Staff
This tale comes due to Ca Watch
Even though many Californians are thinking about moving their funds from banking institutions to credit unions as an element of “Bank Transfer Day,” customer advocates are urging clients to appear closely during the company techniques of some credit unions.
Advocates are involved about those tangled up in payday financing, little loans that are short-term high rates of interest.
Bank Transfer Day’s objective, relating to its Facebook page, is always to move funds from for-profit financial institutions to not-for-profit credit unions.