Short Term Small (STS) Loan
To Provide An Alternative to Payday Lending!
- Must be in good standing with Credit Union
- (No delinquent loans, negative shares or share draft (checking account balances),etc.
see Credit Union for more details if questions
- Loan Amounts in the Range from $250 – $500
- Can be Repaid over a minimum of 1 month & a maximum of 6 months
- Interest Rate 28.00%, If doing Payroll Deduction 25.00% Interest Rate
These Loans will be done Year Round
- Member can have 3 of these loan types in a 6 month period, but only 1 at a time.
- Loan Application Must be Filled Out Each Time & Income Must Be Verified
- Loan application Fee $20.00 each time
- Must Have An Open & Active Share Account for a Period of 6 months
- No Credit Check
You may fill out the loan application online under Forms, just be sure to fill out all areas & for Purpose be sure to put STS Loan, the amount $250.00-$500.00, & write down how many months you want it for 1-6 months. ALSO, make sure you fill out the Verification of Income Form, if you do not work for Baptist, you will need to submit your most recent paycheck stub.