Quad City DollarWise presented
Dale Owen, VP of Lending at Ascentra Credit Union, the certificate of Outstanding Organization Contribution for the credit union’s efforts to fight pay day lenders. Dale was recognized for his efforts in coordinating Quad City area credit unions to assist Quad Cities Interfaith (QCI) in fighting pay day loan businesses. In some cases, these businesses charge interest rates in excess of 350 percent. QCI called on credit unions to show people there’s a more affordable way to get extra money. Five credit unions including Ascentra Credit Union answered QCI’s call by offering smaller loans ranging from $100, $500 to $1,000 with interest rates that can’t exceed 21 percent.