Creditunions.com recently named two Florida credit unions in its article about the best lending programs of the year.
The article recognized Manatee Community Federal Credit Union for offering innovative employer-sponsored small-dollar loans. Employers enroll in the program and then offer the loans as a benefit of employment, sometimes with loan reserves bolstered by company contributions, according to the Creditunions.com article.The idea behind these loans is relatively simple — but they act as a rescue for many who would have turned to predatory payday loans.
Pen Air Federal Credit Union also received recognition for its auto finance program offering to knock 2 percent from loans brought in from another lender. According to Creditunions.com, the credit union’s proram has saved members more than $4.4 million in the past three years.
Also featured in: Creditunions.com.