Quickcash - Langley FCU

Brett T. Noll Senior Vice President / CMO

[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],What is a payday loan?

Payday Loan Locations ,[object Object],[object Object],[object Object],[object Object],[object Object]

Payday Users ,[object Object],[object Object],[object Object]

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Astounding Statistics ,[object Object],[object Object],[object Object]

Astounding Statistics ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],Sources: *Better Business Bureau Serving Western Virginia Consumer Alert: Virginia Data Proves Payday Loans Equal Costly Cash. June, 2004. **Flagship News. It’s Hard To Break Free From Payday Lending Trap. http://www.flagshipnews.com. June 19, 2003 ***The Virginia Pilot. Payday Lenders Expect Booming Business Here Military Presence, Tight Incomes And A New State Law Help Draw Short-term Loan Firms to Hampton Roads. October, 2002.

Why are Payday Lenders popular? ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]

Developing A Solution – A Six-Step Process ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]

Payday Lending Comparison 18% - $1.73 $500, 7 day term N/A LFCU QuickCash 780% - $75 $500, 7 day term $15 per $100 PAYDAY LENDER APR 7 DAYS Term Fee Lender

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Factors In Building Your Payday Loan Alternative Model ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]

Setting up products to complement your alternative ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]

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Proposed legislative ideas in Virginia ,[object Object],[object Object],[object Object],[object Object]

The Payday Lending Industry fights state legislation.

What happens when you call an internet lender?

Thanks largely to payday lenders, the 2007 John Warner Department of Defense Authorization Act contains language that could ultimately have an adverse affect on any financial institution serving the military.

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