DECATUR, Ala.–Redstone FCU has opened its first Right Choice Money Services store, which will offer low priced, basic financial services, including check cashing, money orders, money transfers, bill pay, and reloadable prepaid cards.
“We have learned that many consumers–for various reasons–prefer or feel more comfortable handling their financial business outside of traditional banking,” said Peter Alvarez, general manager of the Right Choice store. “Right Choice’s innovative business model combines the alternative financial services offered by non-bank providers, like check cashers and payday lenders, and provides a pathway or opportunity for establishing a savings account and building credit.
Because of Right Choice’s relationship with Redstone, people can easily transition into full service credit union accounts, if they choose. “
In a statement released by Redstone FCU, it said the concept has been in the works for the past four years as the credit union sought to create an alternative to payday lenders and title loan shops.
