If you are ever short on cash and need an advance before your next paycheck, EdFed has you covered! With a Payday Line of Credit, EdFed will help you meet your financial needs before your official payday. With loan amounts up to $1,0001 and no fees, the EdFed Payday Line of Credit is an excellent alternative to traditional payday loans.
Account open at least 120 days before the loan application
No Bankruptcy within the last 24 months
No existing delinquent loans with the Credit Union
Cannot have caused a loss to the Credit Union of any kind
No prior Payday Lines of Credit closed within six months
A Personal Line of Credit loan is a revolving or open-end credit loan because the length of the loan (term) is not fixed — it's ongoing. As you make payments and pay down the loan balance, you can advance any available amount as you would a credit card. The loan offers low rates and low minimum monthly payments.
Borrow that extra cash you need for that dream vacation, home repairs or any project you've been wanting to start, but haven't because you were short on cash. Our Personal Signature loans have fixed, low rates and a flexible repayment period.
Share Certificate Loan
Lower interest rates are available to members who pledge their share certificates as collateral. You continue to earn dividends on the funds held as collateral.
Share Secured Loan
Lower interest rates are available to members who pledge their savings as collateral. You continue to earn dividends on the funds held as collateral.