|
We want to help you break out of the never-ending cycle of 300% + Payday Loans. Salary Advance loans are offered from $100 to $500 at 15% APR. To qualify you must have direct deposit from the last three payrolls going to an account with DEFCU and the loan balance plus accrued interest must be repaid via funds transfer from your DEFCU account on the next payday.
|
To receive a discounted 12% rate, the following two courses must be completed, passed, and the certificates given to our office:
- Online Anytime Advisor Couples & Money Coach and Quiz
- Online Anytime Advisor Credit Management Coach and Quiz
|
A Salary Advance Cash Account will be established and each time a loan advance is processed, five percent of the advance will be deposited to the Cash Account and pledged as collateral for the loan. Salary Advance Cash Accounts will earn dividends but access will be restricted as the account is set up as a means to save money easily and end the payday-to-payday loan cycle.
|
