SAFCU Grace Loans Members on Direct Deposit or Payroll Deduction with SAFCU are eligible to apply for short term, low rate unsecured loans for up to $750 for a term of up to 3 months. These loans may be used to pay off high rate predatory lender loans such as Pay Day loans or to help meet basic needs in times of emergency or distress. Unlike Pay Day lenders or other financial institutions, we charge no fees for this loan, members that apply for this type of loan must attend credit counseling and budget session as a condition for loan approval.
Members who discontinue direct deposit payments will be ineligible for future SAFCU loans and subject to garnishment. |
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