Vancity Joins Working Group Piloting Innovative Credit Models

Vancity Joins Working Group Piloting Innovative Credit Models

Vancity is one of the first mainstream Canadian financial institutions to offer an alternative to payday loans called the Vancity Fair & Fast Loan™. The product enables members to borrow up to $ 1500 at an annual interest rate of 19%, and with terms …

Read more on Rock Hill Herald (press release)

'Bad credit OK': How payday loan companies are targeting vulnerable borrowers …

The 51-year-old Toronto resident receives disability support payments and has gotten payday loans online and in the stores to help her endure unexpected events. She took out a $ 1,000 payday loan this year to cover cancer medicine and orthodontic work …

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