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State promoting alternatives to payday loans

August 11, 2006 - Portland, Oregon

A statewide television and radio Public Education Partnership campaign touting the benefits of consumer-friendly, low-cost alternatives to payday loans begins airing on Monday.

The state-funded announcements will inform consumers that a 1-800 hotline and Web site are available to help them locate loans that better fit their needs than payday loans.

Consumers who are interested in obtaining payday loans can call 1-800-SAFENET or visit www.211info.org to find information about payday loan-type products offered by Oregon credit unions with significantly lower interest rates and fees than those offered by payday lending stores. The 1-800 number and Web site can match consumers with credit unions they are eligible to join that offer the payday loan alternatives.

The television and radio campaign initially will run four weeks -- Aug. 14 to 20, Aug. 28 to Sept. 3, Sept. 11 to 17 and Sept. 25 to Oct. 1 -- on statewide commercial television and radio stations.

News Source

Portland Business Journal, Staff Writer

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