Payday Alternative Loans
Mid Cities Credit Union can help you get out of tight financial situations, without the hefty fees Payday Lenders typically charge. It’s a stress-free way to get quick cash.
- Loan amounts from $100 to $1,000 (not to exceed net paycheck amount).
- Current interest rate is 24.99% APR.
- $40 application fee for amounts between $100 to $500 and $50 application fee for amounts between $500 to $1,000.
- Loans must be paid within 30 days.
- 5% savings component now optional. Release your funds at anytime if you need them.
- Available only to members in good standing, may not have charge off loans with the credit union, and must have been a credit union member for a minimum of six months.
- No credit report or debt ratio calculation will be required. A ChexSystems report will be reviewed at the time of the first advance request.
- A payday loan application is good for 12 months from the date of completion. Once the application has been approved, each advance request will be accompanied by a current pay stub.
- Loan must be paid in full before subsequent advances will be granted
- Member must have Direct Deposit or Payroll Deduction
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