Stretch Your Check
Stretch Your Check is the perfect way to tie you over between paychecks. Based on the rates and fees charged by local payday lending programs, our annual fee and 18% interest rate provide a much cheaper solution to members needing a little extra cash in their wallets. Here's how easy Stretch Your Check is:
- Existing members with direct deposit of their payroll will qualify* immediately for $500 with a $50 annual fee.
- Existing members in good standing without direct deposit will qualify* for $250. After two successful repayment processes, Stretch Your Check can be increased to $500 upon your request.
- New members will be required to have direct deposit and will qualify* for $250. After two successful repayment processes, Stretch Your Check can be increased to $500 upon your request.
- You must pay the entire outstanding balance, plus interest, within 30 days before obtaining another advance.
See our payday lending comparison chart below to see your potential savings.
| Lenders |
Interest |
Loan Amount
|
APR |
Term |
Total Finance Charges |
| Average Traditional Payday Lender |
$15 per $100 borrowed for each 14 day term. |
$500 |
390% |
28 days |
$150 |
| Stretch Your Check |
18% APR $50 per year |
$500 |
18% |
30 days |
$7.40 |
|
With Stretch Your Check, on $500 you save:
(not including yearly enrollment of $50)
|
$142.60 |
*Members must meet loan eligibility requirements.
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