"Just in case current and former students didn't have enough debt to deal with after their college days are over, a zealous Michigan State Spartans fan might be tacking some more money onto his or her loan balance soon.
The Michigan State University Federal Credit Union is offering Spartans fans a chance to borrow money to be able to make it to the school's first trip to the Rose Bowl since 1988."
However, are loans to the Rose Bowl consistent with the purpose of federal credit unions, which is promoting thrift among its members and creating a source of credit for provident and productive purposes?
Read the story.
Taking a stress break from one's life to attend (and in some cases work) a football game is a "productive purpose." The same as banks made tax-refund anticipation loans.
ReplyDeleteGiven how rarely Michigan State goes to the Rose Bowl, the credit union should be making 25 year loans because it will at least that long until they smell roses again.
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