Submit an application for a Payday Alternative Loan (PAL) from your own credit union

Submit an application for a Payday Alternative Loan (PAL) from your own credit union

If it offers Payday Alternative Loans (PALs) if you need emergency cash and you happen to be a credit union member, you should check to see. PALs are little, short-term loans designed to offer a substitute for high-cost loans that are payday.

These quick unsecured loans come with terms of one to 6 months and lent quantities can cover anything from $200 to $1,000. Unlike pay day loans, PAL application fees cannot go beyond $20 therefore the maximum interest is 28%.

However, you will not be eligible for a a PAL until such time you’ve been an associate of the credit union for one or more thirty days. (más…)