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Routing Number: 253177049
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Salary Advance Loans

When an emergency arises, it’s crucial to have quick access to cash. Avoid the predatory nature of payday loans with an alternative option from SECU.

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Obtaining a salary advance

If you receive your paycheck via direct deposit in one of your SECU accounts, you may be eligible for a Salary Advance Loan.1 A Salary Advance Loan can provide advances up to $500 that will be directly deposited into your account.2,3 The loan is open-ended, so you can continually access money as payments are made on your payday and only pay interest on what you use. The interest rate is variable, meaning it is subject to change.4,5

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  • Maximum loan amount of $500 per pay period based on the amount of your direct-deposited paycheck

  • Advance funds through Member Access, our Mobile App, or ASK SECU, our automated voice response system that allows you to perform transactions using voice commands3

  • No origination or loan advance fees

  • Salary Advance Cash Account established to help save for the future6

  • The loan interest rate decreases once the account balance reaches $5004,5

Understanding your loan advance

With each loan advance, a percentage of the advanced amount is deposited into your Salary Advance Cash Account to help you save for the future. Funds in the Cash Account belong to you and earn dividends. Cash Account funds are held as collateral for your Salary Advance Loan and can only be accessed under certain conditions.6 The advanced loan amount, plus any interest, must be repaid in a single payment via Funds Transfer from an SECU account on your next pay date.

Cash Account balanceLoan APR4,5Cash Account deposit
Less than $50016.75%5% of loan advance
$500 or more10.25%None

Disclosures

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Related links

  • Funds Transfer

    Schedule an electronic transfer of funds between your SECU accounts on a one-time or recurring basis.
  • Personal Loans

    Explore our personal loan options to fund big projects or maintain financial flexibility.
  • Direct Deposit

    Set up direct deposit to one of your SECU accounts.
  • Real-Time Loan Advance

    Get quick and easy access to your available lines of credit with a Real-Time Loan Advance.

  1. Members must be at least 18 years of age or otherwise eligible for lending services to apply. Lending is limited to residents of North Carolina, South Carolina, Georgia, Tennessee, and Virginia. Other restrictions apply.
  2. 5.00% of each loan advance rounded up to the next dollar amount will be required and pledged as collateral for this account until the balance in the Salary Advance Cash Account equals or exceeds $500.
  3. To advance funds, you must have agreed to the terms of our Online Services Agreement. Your loan must be accessible through your online services and authorized to perform online loan advances.
  4. APR = Annual Percentage Rate. APR is the cost over the loan term expressed as a rate.
  5. Variable rate. The APR is calculated by adding the index rate to the loan margin. The index rate is the 26-week Treasury Bill Rate set at the first auction held on or after the 15th day of the second month of the previous quarter, adjusted up to the nearest 0.25%. When the Salary Advance Cash Account balance is equal to or greater than $500, the loan margin is 5.25%. When the Salary Advance Cash Account balance is less than $500, the loan margin is 11.75%. The APR cannot increase by more than 1% each quarter over the previous quarter and cannot exceed 18%. This product is subject to a minimum index rate of 0.25%.
  6. A Credit Union Financial Services Officer must approve all Salary Advance Cash Account withdrawals. A withdrawal of funds from the Salary Advance Cash Account may result in a one-year suspension of borrowing privileges on the Salary Advance Loan.