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SAFE Loan
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SAFE Loan, an alternative to payday loans. When the unexpected happens and your savings won't cover the expense, turn to your Credit Union for a SAFE solution.
Whatever the emergency:
Pay Bills
Car Repairs
Family Emergency
Other unexpected expenses
Use Eglin Federal Credit Union's Salary Advance for Emergency (SAFE) Loan to help you out of a tight spot instead of high cost payday loans or check cashing services.
Qualifications:
Your account must be in good standing
You must be with your current employer for at least two months
Your Eglin FCU account must be opened for at least 30 days
Your payroll must be direct deposited to your Eglin FCU account
The loan amount is limited to ½ of your monthly pay or $500, whichever is less
No application to complete, just bring in your most current pay statement. Payments can be made automatically by payroll deduction. You can only have one SAFE Loan at a time. It must be paid off before applying for another loan. Only four SAFE Loans are allowed during one calendar year.
Members are required to complete the BALANCE Budget Counseling course prior to receiving their second SAFE Loan of each calendar year. To enroll in the course, call 888-456-2227. BALANCE is a free and confidential service offered to Eglin FCU members that provides financial counseling and education.
See what BALANCE has to offer at www.balancetrack.org
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| 120 days |
16.9% |
$500 |
Payments are due on each payday. Minimum payment is $25 weekly or $50 bi-weekly/semi-monthly or $100 monthly.
Florida documentary stamp fee is $0.35 per $100 borrowed.
*APR = Annual Percentage Rate
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SAFE Loan
