Sometimes it is easy to get caught with expenses due while waiting on your next paycheck. When this happens, many people find themselves looking for a quick solution. While some lenders take a predatory approach and require people who are in this tough spot to put up their assets as a means of getting a loan, a regulated payday loan is a much better solution.
Apply now from your computer, mobile phone, tablet, or in person with one of our friendly loan officers. More questions? Contact Consumer Loans at 907-459-5970.
A short term loan to cover expenses between paychecks
- Comparatively low loan fees.
- Less stringent credit requirements.
- Easier and safer to get the help you need between paychecks.
- No collateral required.
- Avoid excessive fees to alternative payday lenders.
"You guys get a 5 in all areas. The service at Spirit of Alaska is always top notch."- C.W.
Payday loans from your credit union can help you avoid the worry that comes with missing important bills, having checks bounce, or having your credit score damaged.
- One-month membership required prior to approval
- Competitive Fixed Interest Rate of 28% APR* (compare to other payday lenders)
- $20 fee for application
- Loan terms ranging from one to six months
- Loans ranging from $200-$1,000*
- Same-day funds in most cases
*APR = Annual Percentage Rate. Payday Loan term and amount based on approved credit. Interest rates on new Payday Loans are subject to change at any time. Optional Spirit of Alaska Protection available.
Refer to our Pricing Guide (PDF) for transaction and activity fees, as well as credit union membership fees. A loan processing fee of $35 will be charged per signer. Other loan fees and terms may vary, and will be disclosed at the time of the loan verbally and in the loan disclosures.
Frequently Asked Questions
Do I need good credit to receive a payday loan?
We work with members who have all types of credit histories. This loan program allows for a lower credit score than our other loan products.
Will I be paying much in interest?
Since the loan term is so short, and the loan is generally paid off quickly for amounts of $1k or less, the interest is very affordable.
How is this different from other payday loan companies?
Spirit of Alaska FCU follows all lending regulations, regulations that are meant to protect consumers from predatory lending. Our interest rates are also regulated for these types of loans. At Spirit, you avoid strange lending practices, buying products from a catalog you do not need, and outrageous fees.
Can I skip a payment on a pay day loan?
No, Skip-a-Pay is not available due to the nature of the loan.
How can I find out my loan balance?
You can find all your loan information by accessing e-Teller.
Can I change the loan payment date?
Yes. Come in to one of our branches and our loan officers can help you with changing your payment date.
Can I get my loan payments deducted automatically from my checking or savings accounts each month?
Yes. Come in to any of our branches or download and fill out an Automatic Payment Authorization form.
How can I get more loan payment coupons?
CU issued paper loan coupons are available for a small, $5 fee. Call 907-459-5970, come in and see us, or print a blank coupon online.
- Do I need good credit to receive a payday loan?