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Main Line Health Employees Federal Credit Union
To Apply, the following
information is needed:
►Verification of Income
Paycheck Stub, W2 Form or
Income Tax Return
►Employer & Length of Employment
►How long at current residence
►If Joint or Co-Sign Loan
Their Social Security Number & Birthdate (SS# & Birthdate not needed if joint or co-signer is a MLHEFCU Member)
►Amount requested & purpose of loan
►If Joint or Co-Sign Loan
Their Social Security Number & Birthdate (SS# & Birthdate not needed if joint or co-signer is a MLHEFCU Member)
►Phone number where you can be reached
To apply, visit your nearest branch office or fax required information to
484-337-4223
For questions, call
#484-337-8600 -or-
e-mail
mailto:memberservices
@mlhcu.org
(regarding questions on the application process)
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Privacy Statement
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Better Choice Loans
The Credit Union’s answer to PayDay Loans. The maximum amount of the loan is $500. There is a $25 application fee. Upon approval, 10% of the requested loan is deposited into the member’s share account. The member may not withdraw any portion of the deposit, or close the account, until the loan is paid off. The interest that the member pays on the amount deposited into the savings account will be rebated to the savings account if the loan is paid on time. This loan must be repaid within 90 days and has an interest rate of 18% APR.
If you have a payday or cash advance loan, you're probably paying extremely high interest rates and fees.
That's why your credit union has developed the Credit Union Better Choice Loan. This smart alternative to payday lending helps you save more of your hard-earned money—and even start saving for your future.
Credit Union Better Choice is an affordable, short-term loan that offers:
- 30-Day Repayment Term
- $25 Application Fee
- $300 Maximum Loan
- 18% Annual Percentage Rate (APR)
- A Built-In Savings Benefit
- Optional Financial Counseling
Why pay high fees and interest rates when there's a Better Choice?
Must qualify. Borrowers must meet credit union membership requirements
and be over age 18.
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Unsecured Personal Loans August 2010
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FICO
Score
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A+ 850 to 7
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A 729 to 680
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B 679 to 640
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C 639 to 600
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D 599 to 550
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E
under 549
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2 Years
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7.63%
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9.13%
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11.63%
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13.63%
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18.00%
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18.00%
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3 Years
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8.54%
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10.04%
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10.93%
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13.43%
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14.32%
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4 Years
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9.68%
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11.18%
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12.68%
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13.18%
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5 Years
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10.32%
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11.82%
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14.32%
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6 Years
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11.14%
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12.64%
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7 Years
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11.96%
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