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NCUA Offering Small Dollar Lending Webinar
Wednesday, April 2, 2014 6:45 AM

Credit unions can learn how consumer-friendly, low-cost short-term loans can be part of their product mix during a free webinar, “Small Dollar Lending,” offered by the National Credit Union Administration April 16, at 2 p.m. Eastern. Host Tom Penna, Jr., economic development specialist with NCUA’s Office of Small Credit Union Initiatives, will join Lucinda Johnson, program officer in NCUA’s Office of Examination and Insurance, and representatives from two credit unions active in small-dollar lending.

The webinar will discuss how some credit unions have created short-term lending programs that work for their members and factors to consider before starting such a program, including:

  • The benefits short-term, small-dollar loans can bring to a credit union’s portfolio mix.
  • Regulatory concerns governing this type of product offering.
  • The costs associated with developing or initiating short-term loans.

Online registration for this free webinar is now open here. Participants will also use this link to log into the webinar. Registrants should allow pop-ups from this website.

Participants may submit questions in advance at WebinarQuestions@ncua.gov. The subject line of the email should read, “Small-Dollar Lending Webinar.” Participants with technical questions about accessing the webinar may email audience.support@on24.com.

In 2010, the NCUA Board approved a rule allowing federal credit unions to offer their members an affordable source of short-term credit. Demand for the consumer-friendly alternative to costly payday loans has grown steadily. At the end of 2013, there were $27 million in outstanding low-cost credit union alternative payday loans, a year-over-year increase of 27.6 percent.

This webinar will be archived and closed-captioned online here approximately two to three weeks following the live event.