Credit Building Loans

Pay Day Alternative Loan

We provide an unsecured six month loan for $500. This loan can be used for unexpected expenses, emergency purposes or to build your credit score.

Terms

  • Loan is paid off in six months
  • Current rate is 18% which equals about $30 total over the life of the loan
  • This loan is a credit building product.
  • Application Fee: $30
  • Late Fee: $10
  • $75 remains frozen as a security deposit in your account until the loan is paid off

Requirements

  • Credit Union Member
  • Minimum monthly net income of $1000
  • Credit Score of 600 or higher, or must attend a credit counseling session
  • No other current loans with North Side
  • Loan may be accessed once every six months
  • Direct Deposit is Required

To Apply: Fill out and submit the loan application by mail, fax, or in person. Set up an appointment by calling (773) 769-5800.

Download Application

Hot Funds/Cold Cash Loan

This unsecured loan for $500 is available to individuals who have been credit union members for at least a year. Direct deposit is not required. Loan is available only during July and August or December and January.

Terms

  • Loan must be paid off in one year.
  • 18% interest rate.
  • Application Fee: $30
  • Late Fee: $10

Requirements

  • Credit union member for at least one year with active account in good standing
  • Minimum monthly net income of $1000
  • No current loans or loan denials in the last year with North Side
  • Eligible for loan twice a year.

To Apply: Fill out and submit the loan application by mail, fax, or in person. Set up an appointment by calling (773) 769-5800.

Download Hot Funds Application
Download Cold Cash Application

Borrow & Save Loan

North Side Community Federal Credit Union is offering this Borrow and Save Loan to those members who are interested in building savings as they repay their loan. Borrow $500, $750, or $1000 and build an emergency fund!

Terms

  • Loan must be paid back within six to twelve months depending on loan amount.
  • 18% interest rate.
  • Application Fee: $30
  • By agreeing to this loan, you will make an additional monthly deposit of $25-40 (dependent on loan amount) to be deposited into your savings account and secured for the length of the loan.

Requirements

  • Credit union member for at least one year with active account in good standing
  • Minimum monthly net income of $1,000 -$1500 (dependent on loan amount) and a direct deposit
    set up to repay the loan.
  • You are only eligible for one small dollar ($1000 or less) loan at a time. You must wait until the end of the repayment period to obtain another loan.

To Apply: Fill out and submit the loan application by mail, fax, or in person. Set up an appointment by calling (773) 769-5800.

Download Application

Step Up Loan

North Side Community Federal Credit Union is offering Step Up Loan to those members who are interested in building credit as they repay their loan. Borrow $1000 and build credit!

Terms

  • Loan must be paid back within six to twelve months.
  • 18% interest rate.
  • Application Fee: $30

Requirements

  • Credit union member for at least one year with active account in good standing
  • Minimum monthly net income of $1500 and a direct deposit of at least $65
    set up to repay the loan.
  • To receive this loan you need paid in full at least two loans with North Side Community Federal Credit Union.
  • You are only eligible for one small dollar ($1000 or less) loan at a time. You must wait until the end of the repayment period to obtain another loan.

To Apply: Fill out and submit the loan application by mail, fax, or in person. Set up an appointment by calling (773) 769-5800.

Download Application