Fresh Start Loan Program

Thomas McFarland / KSMU

The CU Community Credit Union has announced the roll out of an assistance program intended to help those who may fall victim to high interest, short-term loans.

Springfield City Manager Greg Burris, who also co-chairs the Impacting Poverty Commission, says these so-called payday loans can come at a high cost to Missourians.

“Department of Finance for the state of Missouri recently did a study of the payday loan interest rates, the annual interest rates that are charged in Missouri, the average is 451 percent,” he says.