Credit unions offer loans that are typically more affordable and have better repayment terms than payday loans. Credit unions are non-profit organizations owned by their members, so they can offer lower interest rates and fees.
Payday loans, on the other hand, are short-term loans that are due on your next payday and often have high interest rates and fees. These loans can be difficult to repay on time, leading to a cycle of debt. Payday loans online are often marketed to people with poor credit or limited access to traditional banking services.
ABOUT US
MSIC has a proven track record of strength and stability
A member owned, not for profit organization, MSIC’s mission is to promote and strengthen the credit union movement by providing excess share and deposit insurance and associated services for credit unions and their members while preserving the integrity of the insurance fund.
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“No consumer has ever lost a penny of their savings in an MSIC insured credit union.”
— Michael C. Hanson, MSIC President & CEO
BENEFITS OF MSIC INSURANCE
What we offer
In addition to providing excess share and deposit insurance, MSIC continually works to meet credit unions’ needs by providing additional services of exceptional value and quality.
