OLYMPIA, Washington – (COMMERCIAL THREAD) –QCash Financial, a provider of automated and cloud-based lending technologies, today announced its partnership with IH Mississippi Valley Credit Union (IHMVCU) to offer short-term, low-paying loan alternatives to members of credit unions through its QCash product.
By using QCash Financial’s suite of products, IHMVCU can provide an affordable loan option for members who might otherwise rely on expensive services like traditional payday loans to cover unforeseen expenses. QCash is an automated digital lending platform and uses the member’s financial history with the financial institution to take out, approve and fund the loan in less than a minute. The fees and rates associated with QCash loans are lower than those charged by traditional short-term lenders.
“We pride ourselves on serving the needs of our members wherever they are in their financial journey, whether they are just starting out or need money management options during tougher times,” said Lisa Olson, Risk Director for IHMVCU. “QCash Financial’s automated solution is simple, fast, and bases underwriting decisions on the member’s relationship with us, not a credit score. ”
“The IHMVCU understands how important access to liquidity is for financial stability,” said Ben Morales, CEO of QCash Financial. “Small loans at better rates and made quickly can be a powerful tool in a credit union’s toolbox to help members. The IHMVCU caters to the communities that need their services the most and we are proud to be a partner with them.
The QCash loan platform was developed in 2004 by WSECU
after the credit union’s cashiers noticed that a significant number of its members were in need of small, short-term loans from payday lenders who were charging excessive fees and interest rates. It is offered as a white label to financial institutions. For more information, contact Ben Morales at [email protected]
About IH Mississippi Valley Credit Union
IH Mississippi Valley Credit Union (IHMVCU) has more than 120,000 members and $ 1.2 billion in assets and is the fifth largest credit union in Illinois. With 17 branches in eastern Iowa and western Illinois, and a progressive and growing online branch, IHMVCU’s pioneering employees provide convenient financial solutions tailored to each member’s journey – owner towards financial success.
About QCash Financial
QCash Financial is a CUSO providing cloud-based, automated omnichannel lending technology that enables financial institutions to quickly deliver short-term loans to the people they serve. QCash Financial, a wholly owned subsidiary of WSECU in Olympia, Washington, began as a short-term loan solution for credit union members in 2004. For more information on QCash, visit its website at ‘address Q-Cash.com.