ThinkCash and Urban Trust Bank announce partnership
July 16th, 2009
ThinkCash and Urban Trust Bank recently announced a partnership to offer ElasticTM, an emergency cash line of credit available to anyone with a regular source of income. The Elastic line of credit provides consumers with access to up to $500 in emergency cash to cover unexpected bills, car repair, and other urgent financial needs at a lower cost than bank overdraft protection. Elastic also includes a credit-building feature to assist account holders in building their credit score.
Elastic represents another step toward ThinkCash’s vision of providing affordable, convenient emergency credit to hard working Americans that need it most. By using Elastic instead of bank overdraft protection, many consumers will save hundreds of dollars annually in fees. For example, to cover a typical $40 expense, bank overdraft protection would cost an average of $34 but an Elastic line of credit would cost just $5.
“We’re excited about partnering with Urban Trust Bank to provide emergency credit to the hard working Americans that need it most,” stated Ken Rees, Chief Executive Officer of ThinkCash. “By using the Elastic line of credit instead of bank overdraft protection, consumers can save money and build credit. We believe Urban Trust Bank is uniquely positioned to deliver this product to the underserved consumer.”
Consumers can apply for an Elastic account at www.elastic.com.
Click here to read the full press release.
