Payday Alternative Loans

• Relationship-based, not credit-based, personal loan
• Borrow $500* with a flat $75 origination fee or $1,000** with a flat $125 origination fee
• Affordable alternative to payday loans
• 6-month repayment term
• Local decision-making and processing
• Attentive, friendly service from start to finish
• Apply in branch or Online
• Most Recent Paystub is required if employment income is being used.

Qualifications

• Must be a Maroon Financial member for at least 90 days.
• If qualifying with employment income applicant must have been employed with current employer(s) for at least six months.
• Must maintain regular deposits with MFCU of at least $200 a month for the past 90 days.
• Cannot currently be in bankruptcy.
• Must have gross monthly income of at least $800 biweekly or $1,733 monthly from a stable income source.
• Must been in good standing with the MFCU.
• If you’ve never had a PAL with Maroon Financial you are only eligible for the $500 PAL and will not be eligible to refinance. You will not be eligible for your next PAL for six months.
• You must wait at least 90 days before refinancing your PAL and you must have made a minimum number of payments.