Tuesday, July 30, 2013

CU to Offer Zero Percent Loan to Illinois Legislators

Privately-insured Credit Union 1 (Rantoul, IL) is offering 0 percent loans to state lawmakers after Governor Pat Quinn vetoed their salaries out of the budget.

Legislators, who are members of the credit union, can get a 60-day loan worth up to half their salary for 0 percent interest.

The credit union stated that the lawmakers are not getting any special deal, because it had offer same terms to state employees when it looked like they wouldn't get paid in 2007.

However, there is a big difference between giving state employees zero percent loans and giving state lawmakers zero percent loans.

Read the story.
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