Loan
Products
Pay Day Alternative Loans (PALs)
Customer Criteria:
Member in good standing and has a good relationship with the Credit Union
¨ If Credit Score is below 650
¨Has at least $250 in an account that can act as collateral
¨ Must sign up for payroll deduction
¨ Must be employed for at least 6 months with the same company
¨ Must provide two current pay roll stubs
¨ Must have employment confirmed via HR (Phone Call)
¨ Funds will be issued when employment verification and payroll deduction
are confirmed
If the loan is backed by an organization…
¨ Must provide two current pay roll stubs
¨ Must have employment confirmed via HR (Phone Call)
¨ Funds will be issued when employment verification and payroll deduction
are confirmed
¨ Must sign up for payroll deduction
