Receive your initial paycheck TODAY with a 0.00%^APR* loan until your first payday

MyPayNewHire loans are available to all new hire employees of the school districts we serve.

This 0.00% ^APR 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.

• 0.00% ^APR interest for up to 60 days
• Loan amounts may be up to 100% of monthly gross pay, up to $5,000
• Optional payoff plan:
  
  1. With full repayment of loan at first paycheck: pay no interest, or
  2. Select to repay $0 or a portion 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 during the first 60 days of employment
• Loan is subject to membership at ECSFCU with a Checking Account and District Direct Deposit

Select the APPLY FOR A LOAN button at the top of this website and select MyPayNewHire to start your application now!

This loan was previously offered as our "Advance Payroll Loan"

*APR = Annual Percentage Rate.

0.00% APR interest is due on the amount of the original financed loan amount if it is paid on the First Payment Due Date, as indicated on your loan agreement and which is usually your first payday, up to 60 days after loan funding.

If the full amount is not repaid on the First Payment Due Date, members may begin monthly installments on the First Payment Due Date for a term of 24 months on the balance outstanding on the First Payment Due Date. Finance charges will begin to accrue on the First Payment Due Date on the outstanding balance, should you choose not to pay your loan in full on that date.

All loans are subject to loan approval. The fixed interest rate on your loan after the 0.00% APR interest period is based on your creditworthiness and will be disclosed on your loan agreement. Other terms and conditions may apply.

A Share Savings account with a $5.00 deposit is required to open your East County Schools Federal Credit Union membership and a $25.00 deposit is required to open a checking account.

For example, if the full loan amount is not repaid on the First Payment Due Date, a typical loan amount of $2,000 with Tier 1 credit will have 24 monthly payments of $90.91 at an APR of 8.50% beginning in the month following the First Payment Due Date.

Rate and terms are accurate as of July 1, 2024.