MDCU can save members money with our Salary Advance Loan or SAL. Many people get stuck in the payday loan trap. According to the Center for Responsible Lending, the typical payday borrower in the US pays back $793 for a $325 loan. Are you paying 400% APR or more on a payday advance loan? You don’t have to.
With a SAL loan you can get up to $500 at 18% APR. That means for a $500 loan, you could pay as little as $17.40 for a 30 day loan. Escape the payday loan trap and get your SAL loan today!
APR = Annual Percentage Rate This loan includes a $10.00 loan application fee and $7.40 interest paid for a 30 day loan at 18% Annual Percentage Rate. The loan application fee is required with every advance.
