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Payday Alternative Loan (PAL)

Unexpected turns? Find your steady path with PAL.

Get the funds deposited directly into your account when you need them the most.

  • Enjoy lower rates compared to other payday lenders
  • Loan amounts upto $1000
  • Flexible repayment terms
  • Receive a fast decision
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Payday Alternative Loan Illustration

Important: Don't forget to sign up for GreenPath! We offer free, confidential financial counseling to support your financial journey.

Program Overview

This loan is intended to assist members with detrimental financial obligations, including but not limited to: existing payday loans, utilities, rent, and non-CU vehicle payments. Documentation of bills is required at the time of application.

Loan Terms

  • Maximum Loan Size: $1,000 (Includes up to $100 in discretionary cash).
  • Terms: Maximum 6 months; No skip payments or term extensions.
  • Interest Rate: 18% APR.
  • Disbursement: Checks are made payable directly to the debtor (e.g., "AT&T").
  • Savings Requirement: Member must deposit 1/2 of loan proceeds into a restricted "PD Savings Account." Funds in this account cannot be used to pay off the PAL.

Eligibility Requirements

  • Active FSFCU account.
  • Positive balance within the last 30 days (if currently overdrawn).
  • No delinquency on existing FSFCU loans.
  • Verified direct deposit (employment or pension).

How to Apply

Ready to get started? You can speak to our associate at any one of our branches to apply for your Payday Alternative Loan today.

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