Emerge24: WECU's Irene Boyer Talks Quick Cash Loan Program
CUbroadcast
Irene Boyer, Consumer Loan Manager at WECU and 2024 CUES Emerge Finalist, joined us on the show to share why she entered the CUES Emerge competition this year, how she sees it affecting/boosting her career, her experience so far, and her business case that she will present on the Live Pitch Show on October 2 at 11:00 a.m. (PST).
Here's her business case: Quick Cash Loan Program
To help members get out of predatory payday loan cycles, build positive credit relationships with credit bureaus and the credit union, and to simply get access to fast cash, WECU will implement a Quick Cash Loan Program. Eligibility will be solely based on the member’s relationship with WECU through factors such as length of membership, consistent frequency of deposits, amount of deposits, and being in good standing with the credit union. Loans will range from $100 to $3,000 with repayment terms up to 24 months at a set rate with no origination fees.
This will be accomplished through the established relationship WECU has with a great FinTech company that manages our consumer loan pre-qualifications online. As this will only be available to existing members, applications will be encouraged through our online/mobile banking portal with options to apply in the branch or via phone.
Check it out and let us know your thoughts. And don't forget to watch the CUES Emerge Finalist Live Pitch Show on October 2 at 11:00 a.m. (PST).