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Have you been using payday loans to help you get from paycheck to paycheck? Our Payday Loan is an alternative to help break the cycle of using lenders that charge a high cost for credit.

Here's how it works

  • Initial loan amount of $300 - $500
  • Must be 18 years of age or older
  • Must be employed at current job for at least 6 months (social security, pension and unemployment benefits may be considered sources of employment)
  • Must provide a recent paycheck stub
  • Income must be at least $1,000 net per month
  • Must disclose purpose of the loan
  • Must not have any delinquent loans with First Choice Credit Union in the last 60 days
  • Must not have any NSF activity in the last 60 days
  • Must not have any bankruptcy in the last year
  • Must not be participating with any Credit Counseling service
  • Repayment plan up to 6 months
  • Must be a member of First Choice Credit Union for at least 6 months
  • Must have payroll deduction or direct deposit occurring at least twice before the loan is disbursed
  • Repayment plan for up to 6 months
  • $25 processing fee to be paid at time of application (may not be financed into the loan amount)
  • No more than one Payday Alternative Loan per member at a time

For further details, contact our Loan Department at 815-434-5860 Ext. 12.