Bridge the Gap with a 0% Payroll Loan
Advance Payroll Loan (APL) is available to all new hire employees of the school districts we serve.
This zero percentage rate / low percentage rate loan is designed to "bridge the gap" between when a new employee starts working, and when they receive their first paycheck.
- 0% interest for up to 60 days*
- Loan amounts of 100% of monthly gross pay, up to $5,000
- Optional payoff
- Full repayment at first paycheck - pay no interest
- Partial repayment: continue to make monthly payments for up to 24 months at a low interest rate**
- This loan offer is available for all new school district employees for up to 60 days after the date of employment
- Loan is subject to membership at ECSFCU with a Checking Account and District Direct Deposit***
* Interest will begin accruing as of the first payment due date (45 – 60 days after date of loan funding), if the loan is not paid in full on or before that date.
** All loans subject to Credit Approval. The interest rate on your loan after the zero percent interest period is based on your individual credit score.
*** $5.00 Savings Deposit is required to open your credit union membership.