There’s a very good chance that members of your credit union are using payday loans to make ends meet or deal with an unexpected expense. But payday lenders don’t contribute to your members’ financial wellness, and currently, many Canadians struggle with being stuck in a payday loan cycle.
But how can you change that situation for your members, and make your branch approachable for those that need financial assistance, without getting tied up in bureaucratic processes and paperwork?
Check out our infographic below about the reasons Canadians choose payday loans, and how integrating a short-term lending platform can benefit your members and your credit union.
Celero is a leading provider of digital technology and integration solutions to credit unions and financial institutions across Canada. Clients trust Celero’s proven track record delivering innovative banking technologies, digital and payment solutions, cloud computing, outsourcing, IT and advisory services.