WHAT OUR MEMBERS SAY
WHAT OUR MEMBERS SAY
About SchoolsFirst FCU

“The Credit Union has something for everyone, from someone who is financially savvy to a person who just needs basic services.”


– Amy C.
Member Since 2010

About SchoolsFirst FCU
MOST POPULAR CONTENT
MEMBER FAVORITES BalanceTrack Checking Management
Personal Loan
Branch & In-Store Branch Services
Financial Wellness & Education
Fixed & Variable Annuities
Payroll Savings Loan
Payroll Savings Loan

 

Many payday lenders charge exorbitant rates and fees for paycheck advances. Our Payroll Savings Loan provides a lower-cost alternative to payday lenders and offers a quick and confidential way for Members to get a cash advance until their next paycheck.

Funds can be used for just about anything, from paying utility bills to buying groceries.

Features
  • Loan amount up to $500
  • Borrow and repay on a revolving basis during the 12-month draw period
  • No application fee or funding fee
  • 5% of each loan advance will be placed in a dividend-earning Payroll Savings Share account; deposits and accumulated dividends can be withdrawn at the end of the draw period
  • Loan balance and accrued interest will be repaid to SchoolsFirst FCU via automatic transfer from a SchoolsFirst FCU Savings or Checking account on your next scheduled payday

Requirements

  • Participation in direct deposit
  • SchoolsFirst FCU accounts must be in good standing
  • Each loan advance must be approved

 

How to Apply

 

 

Call

Call

800.462.8328

Monday through Friday, 7 a.m. - 7 p.m.
Saturday, 9 a.m. - 3 p.m.

 

Branch

Visit

 

Any SchoolsFirst FCU branch

 

 

 

 

Annual Percentage Rate (APR)  Loan Amount  Draw Period 
17.90% Up to $500 12 months

 

 

Disclosures

The Payroll Savings Share account will earn dividends at the Share Savings rate, and is pledged as collateral for the Payroll Savings Loan. If an early withdrawal from the Payroll Savings Share account is requested, the loan must be repaid in full, and borrowing privileges from the Payroll Savings Loan may be suspended.

Rate quoted is effective as of date and is subject to change. SchoolsFirst FCU has a loan program which features a range of interest rates for some of its consumer loans. SchoolsFirst FCU's maximum aggregate personal loan limit is $50,000 per qualifying Member. This includes all individual and joint personal loan credit combined.

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