Lending

RALEIGH, N.C. - (01/22/03) -- State Employees CU said has begunoffering short-term unsecured loans to those members expectingrefunds on their income taxes. The rates on the loans,between 10.75% and 11.24%, are significantly lower than those ontax anticipation loans provided by tax preparation companies likeH&R Block and Jackson Hewitt and must be repaid either bydirect deposit of the tax refund or by depositing the refund intothe members's account. The credit union also said it has partneredwith Jackson National Life to offer members fixed annuity products,which provide members with a long-term, tax deferred savingsvehicle.