Exactly How did QCash start? ItвЂ™s a exceptional story about a front side line employee residing the motto of individuals assisting individuals.
Our tale starts whenever a teller at Washington State Employees Credit Union, the credit union that has our CUSO, that people had been entering the branch over over repeatedly for the money purchases. Cash requests arenвЂ™t almost anything to take into account, but our teller noticed one really thing: those cash instructions had been then utilized to create other cash requests to payday loan providers.
We didnвЂ™t know any thing about payday financing during the right time, but by way of WSECUвЂ™s empowered tradition, the teller told the credit union CEO about what she observed. Our CEO then assembled a group that is small of, bright minds to determine that which was occurring and how WSECU may help.
just just What the credit union discovered had been its people were utilizing predatory payday lenders to meet up with their short-term, little dollar requirements. WSECU decided they not just had a need to assist their users, but short-term financing had been one thing credit unions could and may do.
And, not merely can WSECU short-term, little buck loans save users cash, they could simultaneously produce an innovative new, income flow when it comes to credit union.
And thus, 14 years back, QCash was made to give short-term, tiny buck loans to WSECU users.