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Capital City Press Federal Credit Union is now offering an alternative to the traditional payday loan program.

Payday lenders charge an average fee of $50 for a $300 payday loan . Let us show you how to break the payday loan cycle and start saving.

Instead of throwing away your money you can start saving with each advance.

Example:

Advance amount: $300.00
Deposit to savings: - $25.00
Advance fee - $10.00
Net cash to you $265.00

On payday the full principal and interest payment of $302.07 will be deducted from your direct deposit.

This example is based on $300 at 18% for 14 days.

  • To qualify you must currently have a Capital City Press Federal Credit Union deposit account and have an automatic direct deposit sent to the credit union.
  • Advance amounts can't exceed 50% of your expected direct deposit.
  • All advances must be paid in full within 17 days
  • A deposit of $25 will be deposited into your payday savings account with each
    advance regardless of the advance amount
  • The payday savings account is restricted from withdrawals until the balance exceeds the approved advance line of credit.
 
Contact a member of our Financial Services Team for more details.

Courtney Powers
225-761-5111 x22
courtney@ccpfcu.com