Early payday loan
Early Payday is a payday loan alternative designed for members who need up to $500 cash quickly. Early Payday does not require a minimum credit score.
Early Payday applications are not available online. Please come into the Credit Union during business hours to apply. Please bring in your:
- Government issued ID and a secondary ID
- Most recent paystub
- Most recent bank statement
Early Payday Loan Requirements:
- You must be a Cal State L.A. Federal Credit Union member and 18 or over
- You must be a Cal State L.A. Federal Credit Union member for 31 days or more to qualify for $250, and 61 days or more to qualify for $500
- You may not have caused a financial loss to the Credit Union
- You may not have a past due or charged off loan(s) with the Credit Union
- Your Credit Union account may not have a negative balance at the time of your application
- You will be required to show proof of identification. (Government issued photo ID, and a secondary
form of ID such as a student ID or utility bill.)
- You must fill out the loan application in person.
- You must have an open checking account with a financial institution and provide your most recent bank statement.
- Your most recent check stub is required, dated within 30 days or less. You must be currently employed.
- A Teletrack report will be reviewed at the time of application. You must have no adverse history or unpaid loans with other payday lenders.
- If you have an Early Payday loan with the credit union, it must be paid before you can open a new loan.
- You may not exceed three (3) Early Payday loans in a (6) six-month period.
There is a $20 application fee for Early Payday.
This fee is non-refundable. Please review the requirements above to ensure you will qualify before you apply. Payments may be scheduled according to your payroll schedule. If you are paid weekly, bi-weekly or bi-monthly, we will schedule your payments to coincide with your payroll dates. There is no pre-payment penalty.
Rate and Payment ExamplesSource: www.calstatela-fcu.org
Category: Payday loans