A Smart Alternative to Payday Lending
The District Credit Union developed the Quick Fix Loan to protect its members from the predatory rates of payday lenders. Read on to learn how you can save more of your hard-earned money.
Unlike payday or cash advance loans, our Quick Fix Loan offers a longer, 90-day repayment term with lower fees and interest rates. Applying is easy—no credit check or collateral is required, and the application fee is only $20 (which acts as a deposit). And when it comes time to repay the loan, you’ll pay only 18% APR*—that’s considerably less than the 450% effective interest rates you may be paying on a payday loan. Plus, you’ll have the flexibility of making monthly, biweekly, or weekly loan payments
Best of all, our Quick Fix Loan features a built-in savings benefit. Upon approval of your loan, an additional amount, equal to 10% of your loan, will be deposited into your savings account. You may not withdraw any portion of that deposit, or close your account, until the loan is paid off. Once you’ve paid off your loan, your application deposit and the interest you’ve earned is yours!
Why pay high fees and interest rates when there’s a better alternative? For more details and an application, contact The District Credit Union.
If you need assistance in getting out of debt or just need advice on how to better manage your money, The District Credit Union can help with free financial counseling and expertise, or check out our free education center.
Although we do not charge you a penalty or fee if you prepay your loan, any prepayment will be applied as provided in your promissory note: First to Unpaid Fees and costs, then to Unpaid Interest, and then to Current Principal.
SALLIE MAE RESERVES THE RIGHT TO MODIFY OR DISCONTINUE PRODUCTS, SERVICES, AND BENEFITS AT ANY TIME WITHOUT NOTICE.
The District Credit Union’s terms, privacy, and security policies do not apply to the external website you are about to visit. The District does not endorse, guarantee, or control any product, service, or content available on the external site. Additionally, The District is not responsible for the security or privacy practices of the external site, nor for the privacy or security of any information you may provide to others on the site. We encourage you to review the privacy policy of the external website for more details.
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