Payday Loans

YOUR MONEY Payday Loans (NAPSA)—America’s military is being targeted. Not by terrorists or a foreign power, but by unscrupulous moneylenders who prey on military families that are simply trying to make ends meet. “Payday” loans can be costly for young military families. So-called “payday” loans are marketed as cheap and hasslefree but have proven to be detrimental to service members who have chosen them as a means of overcoming immediate needs for cash. Payday lenders offer shortterm loans at exorbitant interest rates, then repeatedly renegotiate the loans when the borrower can- not pay. Credit unions offer far greater benefits, including lower fees, better interest rates, financial coun- seling and community outreach programs. Their mission of service includes making quick, low-inter- est loans to military families, plus education and financial strategies to help young families build a solid future. For more information, visit www.nafcu.org.