QCash Financial President/CEO Seth Brickman and Peoples Advantage Credit Union President/CEO Amanda Habansky stopped by the show to share how their small-dollar loan option ("Fast Cash"), implemented by QCash, helps members not only avoid predatory lending but helps build their credit, as well.
Here are some of the items we discussed:
members are going somewhere for their small dollar needs – why not go to the credit union
how Fast Cash has been received by members
member stories where Fast Cash has made a difference in their lives
members building good credit with Fast Cash
target audience for Fast Cash
decrease in payday loan usage since launching Fast Cash
employees using Fast Cash
specialty loans offering over the holidays – with impressive results
greatest concerns offering a small dollar loan option
advice for peers who are considering offering an automated small dollar loan option
Very informative and inspiring discussion here with Amanda and Seth on literally changing members' lives and adding a ton of value to the credit union. Check it out and let us know your thoughts. And be sure to watch the entire episode below for all the details.
Mike Lawson, Host
Married to a beautiful and wonderful wife, raising 5 kiddos (including twins!), enjoy helping others tell their stories, and love surfing SoCal waves. Keep it simple.