Self-Help Federal Credit Union Continues Growth and Innovation
SHFCU, a CRL affiliate, continues to expand in California's working-class communities. This year, it merged with Mission SF Credit Union and 1st Pacific Credit Union—gaining a presence in San Francisco, Vallejo, Napa, Fairfield, American Canyon, and Vacaville. It's a great time to be a responsible credit union, with 650,000 new accounts opening up across the country in October alone. If you're looking for a good place to move your money, take a look at Self-Help Federal!
And if you’re not familiar with our innovative MicroBranch in San Jose, take a look at this video from The Economist on the refreshing way we meet the needs of the community.
Payday Lending Legislation: Stay Tuned
AB 1158, a bill that would raise the maximum payday loan limit from $300 to $500 passed the California Assembly, but didn’t make it to the Senate floor last year. But the delay is temporary and the bill definitely will resurface in 2012. There has been a flurry of critical news coverage of payday lending, including extensive investigative pieces in San Jose, television reports in Los Angeles, and editorials across the state. It’s never too late to call your legislator to oppose any expansion of payday lending!
“Payday loans are harmful predatory lending”
“Mainstream banks also make payday-style loans”
San Jose Mercury News
“A vicious cycle in the used-car business”
Los Angeles Times