SAN DIEGO — While much payday lending talk has revolved around those who prey on enlisted servicemen and women, $850 million Nevada Federal Credit Union also faces stiff competition from Las Vegas alternative financial service providers.
A 2004 member survey revealed that nearly one-third had used a payday lender, CEO Brad Beal told NAFCU attendees.
Recently pulled credit score statistics support the survey's findings. Las Vegas residents scored comparatively lower: 42% had credit scores less than 649, compared to only 33% nationwide.
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