Predatory holiday lending ads (even at credit unions)

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by mstryee

As we approach another holiday season I’m seeing a lot of awful lending advertising again. I know the popular opinion is that credit unions operate with the membership’s best interests; however, for several years in a row there’s been a push for loans right on the front page of mine for pretty insane purposes. “Avoid holiday budget breakers with a personal loan,” is their latest push. Last summer they had one that said something like “Take the vacation of your dreams with a personal loan!”

Just a friendly reminder that in most cases these are terrible reasons to seek a loan. I think this is just an effort to continue normalizing endless debt. I’m just pretty disappointed to see credit unions playing this game.

 

 

 

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