SMART Loans (Payday Lending Alternative)
Firelands Federal Credit Union is now offering a better, smarter alternative to payday advance loans. SMART loans are short-term loans that allow you to borrow up to $1,000 for six months with a much lower interest rate than a traditional payday advance loan! In order to be eligible, you must be a Firelands Federal Credit Union member in good standing for at least three months and have your payroll directly deposited into an account at the Credit Union. Payments for these loans are due with each payroll deposit until the loan is paid in full. SMART loans are perfect when you find yourself running short on cash! Just bring in your driver’s license, proof of residency and two months worth of pay stubs (pay stubs are not necessary if you’ve had direct deposit for at least two months). Check current rates here or stop in today and speak with a friendly loan officer!
Sallie Mae® Official Smart Option Student Loan®
Now you can pay for college the smart way with great repayment options!
Together we can do this.
The Firelands Federal Credit Union Smart Option Student Loan® by Sallie Mae®
is an ideal solution to help bridge that gap between federal loans and the cost of your education expenses.
To learn more or to apply, please get started here.
The Smart Option Student Loan features and benefits:
- Competitive interest rates
- Borrow up to 100% of school certified education costs (minimum $1,000)
- Multiple in-school repayment options available
- Borrower benefits available – like rewards and interest rate reductions
- Rates that reward creditworthy borrowers
- Applying with a creditworthy cosigner may help you qualify and/or receive a lower rate
- Fast online application. Our easy-to-complete application takes about 20 minutes. It's quick and easy
- 24/7 online account management
- No prepayment penalty
To get started, click the ad below!
Share Savings/Certificate Secured Loans
As a member of Firelands Federal Credit Union, you can use your own savings or term share certificate as collateral to borrow funds. That means you can continue to earn dividends on your savings or certificate, and pay a minimal interest rate on this secured loan. These loans require minimal credit approval criteria and the repayment terms are very flexible. This loan can also be beneficial if you are trying to establish or rebuild credit.
For those members with established credit and good credit scores, we offer signature loans. These are designed to help you with small purchases like furniture, appliances, or to help out on special occasions, with no collateral required other than your good name.
Personal Line of Credit
This is the same as the signature loan mentioned above except we give you an established line that you can use at your convenience. This loan works much the same as a credit card, except you can only draw from the Personal Line of Credit by visiting a teller. You only pay finance charges on the balance you use.