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Research Publications

1. Check Cashing and Savings Programs for Low-Income Households: An Action Plan for Credit Unions

   • Caskey, John P., Swarthmore College.
   • Jan 1, 2001 3 Comments

   This report shows how credit unions and their service organizations (CUSOs) can provide low-fee transaction service and special savings programs to modest- and moderate-income households that are currently using check-cashing outlets and other fringe banking businesses.

   This report shows how credit unions and their service organizations (CUSOs) can provide low-fee transaction service and special savings programs to modest- and moderate-income households that are currently using check-cashing outlets and other fringe banking businesses. Using the business strategies detailed in this report, credit unions can generate income from providing these services. Credit unions can also make it possible for households now using fringe banking outlets to obtain vital financial services at prices lower than they currently pay. Most important, credit unions can help many of these households make the transition to traditional low-cost credit union deposit accounts and loans.

   categories » Limited Income Households, Philosophy and Values, REAL Solutions, Risk Management