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Montana CUs small loans increase 26 in 4Q
HELENA, Mont. (2/11/11)—Montana Credit Unions for Community Development (MCUCD) reported an increase of more than 26% in small loans for the fourth quarter of 2010 from credit unions tracked by the organization. MCUCD attributed the growth to a statewide public awareness campaign it ran last year to educate Montana consumers about the availability of small loans at credit unions. The campaign was made possible by a National Credit Union Foundation (NCUF) grant though the REAL Solutions program. The fourth-quarter growth is part of a continuing trend. MCUCD reported that loans during the quarter increased by 26.7% from the third quarter, following a similar gain of 24.4% that quarter. The statewide awareness campaign ran in September and October. It included public-service announcements that were broadcast statewide on television and radio. The ads informed consumers that most credit unions make loans as small as $300. At the same time, credit unions, nonprofit partners and other interested groups distributed campaign materials developed by MCUCD to members and clients statewide.
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