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 1982
Alison is credited with inspiring the founder of Genesee Co-op FCU, David Knoll, to become an organizer of the credit union. According to David, "Alison said to me 'You need to start a credit union!' With the information and contacts she provided me, I worked to get Genesee Co-op FCU going." THANK YOU ALISON!!
"I was an early joiner. I'm supporting what I believe."