OLYMPIA, Wash.--(BUSINESS WIRE)--QCash Financial, a CUSO providing automated, cloud-based, omni-channel small-dollar lending technology for financial institutions, announces it will co-host a webinar with Filene Research Institute to discuss the opportunities for credit unions in offering small-dollar lending on May 10.
During the webinar, QCash Financial will address the four most common financial institution fears associated with small-dollar lending: the financial risk of implementing a new product, regulatory uncertainty, reputational risk and the fear of draining financial resources. Besides Filene, co-presenters will include Don Miller, CEO of Gesa Credit Union, Kris VanBeek, president and CEO of USALLIANCE Financial and Kevin Foster-Keddie, president and CEO of WSECU, all CEOs of credit unions currently using QCash Financial’s technology.
Registration information can be found at filene.com. The webinar is scheduled from 2 p.m. EST/ 11 a.m. PST until 3 p.m. EST/ 12 p.m. PST.
QCash Financial’s technology is currently in use by USALLIANCE Financial and Gesa Credit Union. The QCash platform has been used by WSECU to originate 34,907 loans in 2016, amounting in $28,088,413 loan dollars funded. Gesa Credit Union used the QCash platform to originate 1,157 loans, amounting in $1,126,591 loan dollars funded in the first six months of its small-dollar lending program.
“Small-dollar lending can be a great addition to a credit union’s lending portfolio and extend an institution’s ability to meet member needs,” said Ben Morales, CEO of QCash Financial. “Yet, we know executives have questions - and even misconceptions – about this product offering. We want to educate the industry on the reality behind these fears and how to address them as access to small-dollar loans and instant liquidity becomes more important for consumers across the nation.”
The QCash loan platform was developed in 2004 by WSECU after the credit union’s tellers noticed a substantial number of its members required small, short-term loans from payday lenders that were charging excessive fees and interest rates. It is offered as a white label solution to financial institutions. For more information contact Ben Morales at firstname.lastname@example.org.
About QCash Financial
QCash Financial is a CUSO providing automated, cloud-based, omni-channel small-dollar lending technology that enables financial institutions to provide short-term loans quickly to the people they serve. QCash Financial, a wholly owned subsidiary of WSECU in Olympia, Wash., started as a short-term loan solution for the credit union’s members in 2004. For more information about QCash, visit its website at Q-Cash.com.