How Can Quick, Small Loans Help Members Affected by a Government Shutdown?

Currently, disagreements over funding for Donald Trump’s proposed border wall have partially shut down the U.S. government. In this article, we’ll explore what that shutdown means for government employees. We’ll also suggest how credit unions can support their government employee members during the shutdown by offering quick, small loans. Regardless of your political leanings, one […]

What are the Pros and Cons of Partnering with QCash Small Dollar Lending?

Introducing any new technology to a tried-and-true sector is a recipe for radical change. Generally, the change is for the positive, but that doesn’t mean that there aren’t any drawbacks to innovation. The question is when partnering with financial technology companies, what do you give, and what do you get? When you’re on the front lines […]

How Does QCash Partner with Fintechs?

In the world of financial technology, it’s important to know that companies can form partnerships to better serve their clients. So how does QCash partner with other fintech companies? Imagine a world where fintech companies received report cards. Not just the usual A, B-, C+, or D nonsense, but a report card with healthy evaluative […]

Buy vs Build?

July 30, 2018 by Ben Morales, CEO QCash Why would a credit union make their own payday lending platform versus using the QCash platform? I’m often asked, “Why wouldn’t a credit union just do this on their own versus using the QCash platform?” The bottom line is, what we want from QCash Financial is everyone […]

Are QCash and Payday Loans the Same Thing?

QCash Loan or Payday Loans July 26, 2018 Unexpected things come up in life. Car repairs, medical emergencies, and other expenses that must be taken care of seem to pop up at the worst time. Most Americans live paycheck to paycheck. While some people do have savings accounts, they may not have enough money saved […]

What Interest Rate Should a Small Dollar Payday Loan Program Charge?

What interest rate should a small dollar payday loan charge? While the financial services industry and its regulators debate what is the right APR for short-term, small-dollar loans, Americans in need of relief wait. Their waiting comes with a cost – a big one. PEW Charitable Trusts estimates U.S. consumers spend $9 billion annually on […]

Outcomes Won’t Match Intentions: The NCUA Needs to Keep It Simple With Payday Alternative Loans (PALs).

The third agenda item for the NCUA’s May Board Meeting is a “Notice of Proposed Rulemaking, Part 701, Payday Alternative Loans” This discussion will focus on the following: The NCUA is preparing an amendment to the NCUA’s general lending rule to provide federal credit unions (FCUs) with an additional option to offer Payday Alternative Loans (PALs). This […]

The Importance of Promoting Financial Health and Employee Wellness.

Many credit unions are responsible for the financial health and employee wellness of two employee groups: their own employees and the employees of their SEG sponsors. It only makes sense then that these credit unions should promote financial wellness among both employee groups. Financial hardship has a negative impact on employee productivity in the short-term, […]

How Do the New CFPB Regulations Impact the QCash Financial Platform and Credit Unions?

What are the new CFPB regulations for small dollar loans and payday lending for credit unions? In late 2017, the Consumer Financial Protection Bureau (CFPB) finalized new regulations for small-dollar loans and payday lending. QCash, a subsidiary of Washington State Employees Credit Union (WSECU), has engaged in conversations throughout the process, including WSECU President & […]

How Do I Update My Payday Loan Truth in Lending Disclosures?

A question I often receive from credit unions involves regulatory concerns in operating payday loan truth in lending requirements. Credit Unions often want to know how small dollar loan Truth in Lending disclosures are updated and maintained in our Digital Lending Platform.   If you have this concern – then this article is for you! First – […]