Pay Day Alternative Loan
We provide an unsecured six-month loan for $500. This loan can be used for unexpected expenses, emergency purposes or to build your credit score.
Terms
- The loan is paid off in six months
- The current rate is 18% which equals about $30 total over the life of the loan
- This loan is a credit building product.
- Application Fee: $30
- Late Fee: $10
- $75 remains frozen as a security deposit in your account until the loan is paid off
Requirements
- Credit Union Member
- Minimum monthly net income of $1000
- Credit Score of 600 or higher, or must attend a credit counseling session
- No other current loans with North Side
- The loan may be accessed once every six months
- Direct Deposit is Required
To Apply: Fill out and submit the loan application by login into online banking. Set up an appointment by calling (773) 769-5800.
Hot Funds/Cold Cash Loan
This unsecured loan for $500 is available to individuals who have been credit union members for at least a year. Direct deposit is not required. The loan is available only during July and August or December and January.
Terms
- The loan must be paid off in one year.
- 18% interest rate.
- Application Fee: $30
- Late Fee: $10
Requirements
- Credit union member for at least one year with regular account activity (regular transactions) in good standing
- Minimum monthly net income of $1000
- No current loans or loan denials in the last year with North Side
- Eligible for loan twice a year.
To Apply: Fill out and submit the loan application by login into online banking. Set up an appointment by calling (773) 769-5800.
Borrow & Save Loan
North Side Community Federal Credit Union is offering this Borrow and Save Loan to those members who are interested in building savings as they repay their loan. Borrow $500, $750, or $1000 and build an emergency fund!
Terms
- The loan must be paid back within six to twelve months depending on loan amount.
- 18% interest rate.
- Application Fee: $30
- By agreeing to this loan, you will make an additional monthly deposit of $25-40 (dependent on loan amount) to be deposited into your savings account and secured for the length of the loan.
Requirements
- Credit union member for at least one year with an active account in good standing
- Minimum monthly net income of $1,000 -$1500 (dependent on loan amount) and a direct deposit
set up to repay the loan. - You are only eligible for one small dollar ($1000 or less) loan at a time. You must wait until the end of the repayment period to obtain another loan.
To Apply: Fill out and submit the loan application by login into online banking. Set up an appointment by calling (773) 769-5800.
Step Up Loan
North Side Community Federal Credit Union is offering Step Up Loan to those members who are interested in building credit as they repay their loan. Borrow $1000 and build credit!
Terms
- The loan must be paid back within six to twelve months.
- 18% interest rate.
- Application Fee: $30
Requirements
- Credit union member for at least one year with the active account in good standing
- Minimum monthly net income of $1500 and a direct deposit of at least $65
set up to repay the loan. - To receive this loan it is required to pay in full at least two loans with North Side Community Federal Credit Union.
- You are only eligible for one small dollar ($1000 or less) loan at a time. You must wait until the end of the repayment period to obtain another loan.
To Apply: Fill out and submit the loan application by login into online banking. Set up an appointment by calling (773) 769-5800.