Receive your initial paycheck today with a 0% Loan until your first payday
MyPayNewHire loans are available to all new hire employees of the school districts we serve.
This 0% 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. Upon loan approval, receive your first paycheck amount immediately.
- 0% interest for up to 60 days*
- Loan amounts of 100% of monthly gross pay, up to $5,000
- Optional payoff plan:
- With full repayment of loan at first paycheck: pay no interest
- Select partial repayment of your first paycheck and continue to make monthly payments on the balance 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***
This loan was previously offered as our "Advance Payroll Loan"
* 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 0% interest period is based on your individual credit score.
*** $5.00 Savings Deposit is required to open your credit union membership.