Why Should Credit Unions Get Involved?
Millions of modest income families do not turn to credit unions for their deposit and lending services. Instead many are turning to alternative financial service (AFS) providers such as WalMart, check cashers or payday loan stores for basic financial transactions. These AFS providers generate huge profits from the most financially excluded citizens. In contrast, credit unions are not-for profit cooperatives with a strong tradition of starting families on a road to economic empowerment. Credit unions were established to help people build savings and avoid high cost lenders. Most credit unions consider serving the emerging market as a high priority. Credit unions seek information on how to help unbanked and under banked consumers. Many have questions on how to best structure their organizations and the right products to fulfill this mission. REAL Solutions is designed to help. With four years of experience REAL Solutions has access to tested business models and strategies to better serve
