Members 1st of NJ FCU offers New Jersy short term loans to members using the following guidelines:

• The maximum amount of loan is $1,000

• Maximum term is 6 months

• Must be a member in good standing for at least 90 days

• Must be employed for at least 6 months (must provide proof)

• Deferred payment for 10 month employees (up to 90 days, a full payment must be received by October 15th)

• Fixed rate of 15.95% APR*

• Application fee of $25.00

• Payments will automatically be paid through direct deposit or payroll deduction.

• No credit check is required, but may be pulled at the discretion of the loan officer.

• Members may obtain a Short-Term Loan once every 9 months.

A Short-Term loan is for members who need more than the $500 limit of the Pay-Day Alternative loan and they don’t want to go through the process of applying for a regular loan. They must meet all of the qualifications listed above and it is a fixed rate of 15.95% no matter what the credit score is.

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*APR = Annual Percentage Rate. Example Payment: 6 monthly payments of $175.00 at a rate of 15.95% APR.