Payday Loan Alternative


We all face times when money is tight. If you find yourself in that position, consider a Freedom Line of Credit (FLOC), a payday loan alternative, from St. Louis Community. That’s because the last thing you need is to be taken advantage of by a lender who is motivated by profit, not your well-being.
At St. Louis Community, we won’t charge you outrageous rates or fees. Plus, a portion of your loan advance is put into a mandatory savings account at the Credit Union to help you get back on track.
Freedom Line of Credit features:
  • Must be a current member of St Louis Community Credit Union.
  • Must have an active checking account in good standing that has been open for at least 90 days.
  • Maximum loan amount: $500.
  • No credit check.
  • Annual fee of $25 – $50.
  • Automatic transfer of payment available for your convenience.
  • Maximum term: 90 days.
  • Each Freedom Line of Credit advance requires a 10% deposit into a restricted access savings account at the Credit Union to help you avoid borrowing in the future.
  • Financial counseling available and encouraged at no additional charge.
  • Must have direct deposit.
Keep in mind that a Freedom Line of Credit should be used for unforeseen or emergency expenses only. Other types of loans available at the Credit Union are less expensive.
Looking to Advance Your Freedom Line of Credit? It’s available through both online banking and by Phone!