- Revolving line-of-credit up to $10,000
- Save over credit and retail card charges with our low variable rate
- Simple interest financing with no prepayment penalties
- No annual fees
- Only the exact amount needed is transferred to cover checks
- No transfer fees
- Get cash around the world with MAXline at any participating ATM
- Annual percentage rate is tied to the three-year U.S. Treasury Security issue and may be adjusted quarterly
- Maximum amount $7,500
- Terms from 36 to 60 months
- Discounts up to 1/2%
off our already low rates when you use
any of a wide range of account relationships with LCFCU.
Maintain your savings and borrow at the best rate in town. Apply for your secured loan today!
- Lowest rate loan available (3.00% above the rate of the secured share or certificate account)
- Secured by funds on deposit
- Flexible repayment terms up to 60 months
- Simple interest financing with no prepayment penalties
It can happen to anyone. When there is too much month and not enough money. That’s when you turn to LCFCU for StretchPay, a low-cost and reusable salary advance loan alternative.
A StretchPay loan requires:
- an annual fee of $35 for a $250 loan or
- a $70 annual fee for a $500 loan.
- Our finance charge is 18% APR simple interest.
This compares favorably against typical payday lenders who may charge combined fees and interest equal to nearly 400% APR.*
It’s easy to qualify and apply.
- You must be a member of LCFCU for at least 60 days,
- show proof of income,
- be current on all loans with us and
- not be in the process of filing for bankruptcy.
Your first StretchPay loan must be for not more than $250 and repaid in 30 days. After one year, you are eligible to take a $500 loan and reborrow for 30-day periods as many times as necessary during the year with no additional paperwork or fees.
Please contact our loan department staff and apply for StretchPay today and find out how you can save more than $70 on a typical $250 loan and more than $140 over commercial payday lender terms on a $500 loan. We offer StretchPay to help you save money during a time when you need it most. Apply today!
* LCFCU Finance charges on a 30-day $500 StretchPay loan are $7.40. Loan fee at a commercial payday lender charging $15 per $100 borrowed, is $150 for $500 borrowed over two 14-day terms.
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