OLYMPIA, Wash.--(BUSINESS WIRE)--QCash Financial, a CUSO providing automated, cloud-based, omni-channel small-dollar lending technology for financial institutions, today announced that it is partnering with Birmingham-based America’s First Federal Credit Union to offer short-term, small-dollar loans to its members.
Using QCash Financial’s product suite, America’s First offers an affordable lending option to members who are often forced to rely on costly payday loans to cover unexpected expenses. QCash Financial’s automated lending platform utilizes a member’s financial history to underwrite, approve and fund a loan in under a minute. The fees and rates associated with QCash loans are substantially below those charged by traditional short-term lenders.
“Our members needed a sustainable alternative to traditional payday loans,” said Kevin Morris, Senior Vice President and Chief Lending Officer at America’s First. “QCash Financial’s solution is simple and enables us to offer our members a tool to meet their short-term lending needs.”
“America’s First will be able to meet the needs of the underbanked community by providing access to a financial tool designed to improve its members’ financial stability,” said Ben Morales, CEO of QCash Financial.
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 email@example.com.
About America’s First Federal Credit Union
America’s First is a full-service financial institution with over $1.4 billion in assets and 19 branch locations across the Birmingham-Metro and Mobile, Alabama areas. As one of the strongest credit unions in the United States, we are committed to providing the most cost effective and convenient financial services for our members. For more information, please visit amfirst.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.