Alternative Payday Line-of-Credit (APLOC)
We offer a $500 line-of-credit for emergency purposes and when a CU member does not currently qualify for an Overdraft LOC.
- The member must have been a members for at least six months and have direct deposit to apply for an APLOC.
- There is a $35 application fee.
- There is a fixed rate of 18% APR on our APLOC.
- The APLOC must be repaid within a three month period, so it is intended as a very short-term loan but can be re-used again when needed.
After one year of positive repayment of an APLOC, the member will automatically qualify for an Overdraft LOC and the rate will be changed to 13% APR and the minimum payment will be reduced to $20 per month.
Our Members make the difference.
Member Since 2004
"What has the CU done for and meant to me? How about warmth and security? When I joined I felt, and still feel, that the diversity of the neighborhood is well represented both by the CU's members and its employees. As welcoming as the staff is, I had no problem following when the building on Gregory St became its new home. The loyalty I felt to Genesee Co-op FCU at that time has been validated by an incident in May 2009. One of my checks was presented to the teller, unsigned, for a large amount. When that individual came back with same check supposedly signed by me, the CU refused to cash it, because the staff recognized the signature as forged. I got to see how the sense of kinship the CU propagates, plays out in order to safeguard its members. Thank you, team."