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Q-Cash: The Payday Loan Alternative
Now featuring a lower rate and longer term!
If you're a bit short on cash and payday is a little too far away, WSECU has the perfect alternative to high-rate, high-fee payday loans: Q-Cash.
In addition to borrowing from the financial institution that you know and trust, you'll also benefit from our commitment to helping our members with their financial needs. With Q-Cash, you'll have the short-term loan you need without the exorbitant rates and fees typically charged by traditional payday lenders. And, unlike payday loans, you are not restricted to a certain number of Q-Cash loan requests.
Q-Cash features:
- A new lower rate
- A new longer term of 60 days
- Low fees ($12 per $100 borrowed)
- Borrow between $50 to $700 per request
- Repayment in one or two installments
- Free financial fitness assistance through BALANCE
How much can you save? Here's an example, based on a $500 loan
| |
APR* |
Term |
Fee |
| Q-Cash |
73% (was 97.33%) |
60 days (was 45) |
$60 |
| Traditional Payday Loan (Ex. 1) |
391% |
14 days |
$75 |
| Traditional Payday Loan (Ex. 2) |
121.67% |
45 days |
$75 |
Applying is Easy!
First-time Q-Cash Request:
Stop by any WSECU branch to apply in person. We ask that you have one of the following:
- Direct Deposit
- A current paystub
Subsequent Q-Cash Requests:
- Apply 24/7 through online banking (Don't have online banking? Contact us today to sign up!)
- You can also visit your local branch or give us call
- Upon approval, the funds will be deposited immediately into your account
Here's more good news: Q-Cash loans are not affected by recent regulatory changes imposed on payday lenders. This means WSECU can continue to provide Q-Cash loans in the most affordable, beneficial way to you. It's business as usual...the WSECU way!
*Annual Percentage Rate |
