July 15, 2013


Comments

 
 
 
  • At Glenview Credit Union (Chicagoland suburbs) we offer a "Guaranteed Loan." The member must have full direct deposit and be employed 3 months or more at their current job. This loan is also offered to those receiving some type of regular benefits on a case by case basis. The $1200 loan has a 20.99% interest, no fees and is paid weekly, bi-monthly or monthly based on their direct deposit. $500 stays secured in savings (earning interest) and they receive $700 to pay bills or even to open our secured VISA credit card. This is a 12-month loan. When it is paid off, they can re-do a loan, keep the $500 secured in savings and get a full $1200 on their next loan. We have seen significant increases in credit scores over time for these members. It works well for those with no or little credit as it does for those trying to re-build their credit. Helping members move forward is always the best goal we can all have!
    Kathleen Quinn, Marketing Director
     
     
     
 
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