On a study trip to Oaxaca, Mexico, with a group of fellow philanthropists, Tricia McKay visited a low-income credit union where she saw customers routinely making deposits and taking out small loans. Back in Seattle where she heads the Medina Foundation, McKay couldn’t help but notice a lack of similar services for the working poor of Washington state. She became acutely aware of “payday lenders and check-cashing services on every corner of low-income neighborhoods. We have a market failure,”...
Want more? Sorry, the full text of this article is only available to subscribers. Subscribe now.
Already a subscriber? Please log in by entering your email address and password into the red login box at the top-right corner of this page.
Need to register for your premium online access, which is included with your paid subscription? Register here.