ATTENTION MEMBERS AGES 18 -20
If you are searching for answers and tools for your financial future, Wayne Westland Federal Credit Union can help you build credit with our First Chance Finance Loan. We believe in our youth membership and believe you deserve a chance to show your financial responsibility while building a good credit history for future borrowing needs. When you have a good, established payment history, you get the best rates offered the next time you need to obtain credit.
We will loan you $500 once your account is established for a minimum of six months. You need to be between the ages of 18-20 with a minimum of 90 days on the job. We do not require you to have any credit and we won’t ask for a co-signer. The current rate for this unsecured $500, with no credit history, is at 17.95% APR*. We will set the term at 12 months keeping your monthly payment affordable at $46 each month. As for all loans at the Credit Union, you can always pay more than your monthly payment and there are no pre-payment penalties.
See a Member Service Representative and get your good payment history started today.
*APR = Annual Percentage Rate. Rates subject to change.