If you have an emergency and require funds now, what do you do?
University Credit Union has a Short Pay Loan that is an affordable alternative to loans provided at Check Cashing Stores. This short-term loan provides members with up to $500 that will get repaid over a 6 month period.
Plus, unlike Check Cashing Stores, UCU does not charge high fees that make it very expensive to access short-term funds. A reasonable application fee, Direct Deposit of your paycheck and other features makes the Short Pay Loan a money-saving option:
- $500 Maximum Loan
- $100 Minimum Loan
- $20 Application Fee
- Paycheck Direct Deposit Required
- Full Repayment within 6 months
- 18% Annual Percentage Rate (APR)
Break the Cycle of Payday Advance Loans
If you happen to be a frequent user of check cashing loans, the UCU Short Pay Loan is a great option for helping to break the cycle. After UCU's application fee, the only other charge would be interest charged on your outstanding balance (which only comes to pennies a day!). With Check Cashing Stores, you'll be charged for each $100 taken, every time you take an advance. Those fees can really add up and reducing them means more money in your pocket!
Apply online, by phone, by mail or at a branch.
