Payroll Advance Loans

You can borrow up to $500 for 6 months.

Application fee: $20.00

Interest rate: 16%

Minimum requirement: Must provide most recent two pay stubs, receive a direct deposit, maintain a $150 deposit balance and have income of $1,000 per month.

 

Payday Alternative Loan Plus

You can borrow up to $1,000 for 6 months.

Application fee: $20.00

Interest rate: 28% or 27% with direct deposit

Minimum requirement: Must provide most recent two pay stubs, maintain a $50.00 deposit balance, be a credit union member for thirty days and have an income of $1,000 per month.

 

Signature Loans

You can borrow between $1,000 - $10,000 for paying bills, debt consolidation and purchases.

Application fee: $20.00

Terms: 6 moths to 48 months

Interest rate: May range between 8% - 16%

Minimum requirement: Must provide most recent two pay stubs, proof of rent or mortgage, maintain a $50.00 deposit balance and demonstrate the capacity to repay the loan. To apply for a $10,000 loan, your credit score has to be 650 or above.

 

Credit Builder Loans

You can borrow between $150 and up.

Application fee: $10.00

Terms: 6 months to 48 months

Interest rate: May range between 4.05% - 4.20% This loan is 100% secured by available funds in your share/savings account.

 

New and Used Auto Loans

SSCFCU will finace a new or used vehicle up to 90% of Kelley's Blue Book value.  Vechicle must be less than 7 years old.  You can borrow up to $40K for a new car or $35K for a used car.

Application fee: $20.00

Terms: Up to 40 months (used) and 72 months (new)

Interest rate: May range between 3.25% - 16%

Minimum requirement: Must provide a vechicle description, most recent two pays stubs, proof of rent or mortgage, maintain a $50.00 deposit balance, be a credit union member for 3 days and demonstrate the capacity to repay the loan.

 

Title "Alternative" Loans

You can borrow between $400 - $4,000 against the title to your vechicle.

Application Fee: $25.00

Terms: 6 months to $24 months

Interest rate: 16% or 15.5% with direct deposit

Minimum requirement: Must provide title, copy of registration and insurance.  Provide most recent two pay stubs, proof of rent or mortgage, maintain a $50.00 deposit balance, be a credit union member for three days and demonstrate the capacity ot repay the loan.

 

Micro Business Loans

Loans are available up to $15,000 for startup and existing businesses. 

Terms: Up to 48 months at 10%

Application fee: $25.00

Application packet:   Click here to download packet

Fees: 3% collateral filing and processing

Requirements: Business must be legal entity located on the South Side of Chicago (FOM). Must maintain $100 account balance.  Loans over $5,000.00 must be collatealized by auto or cash, and complete a loan application.  Process may take up to ten days after submitting a complete application.

Small Business Loan Application

Download application packet

Funding to grow or expand your business!

 


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