Qcash Financial

Provider of an automated cloud-based mobile lending platform. The company's software enables financial institutions and banks to provide short-term loans to their customers online.n 2003 WSECU’s (Washington State Employees Credit Union) President, Kevin Foster-Keddie, noticed an alarming portion of the credit union’s members were utilizing local store front payday lenders for their short-term cash needs. He wanted to know more, “Why are our members going outside of the credit union?”. A deeper dive was taken to understand what products our members wanted and how we could meet that member need. What was discovered was alarming. Not only were WSECU’s members going elsewhere for a product that was not being offered at the credit union, but a six month internal review showed that they were paying fees in excess of $1 million dollars just to have access to short term cash! The onerous terms and predatory lending practices to which WSECU’s members were being subjected did not sit well with Mr. Foster-Keddie. It stands in direct opposition with everything WSECU stands for. Something had to be done immediately.

show less