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Six Credit Unions Selected to Seek Payday Loan Alternatives

NEW YORK--( COMPANY WIRE )--Nov. 10, 2004--JPMorgan Chase & Co. in addition to nationwide Federation of Community Development Credit Unions have actually selected six credit unions in five states to generate and develop options to high-cost "payday" loans for customers.

Beginning year that is early next the financial institution will be able to work because of the credit unions in Ca, Illinois, Louisiana, nyc and Ohio to aid low-income customers whom now utilize short-term loans to transport them over until their next paycheck.

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