You can get the cash you need before payday with an Advance Pay from One Nevada Credit Union! It's a more affordable option than your typical payday lender. You can borrow up to $1,000, for up to two weeks, for less than other payday lenders.
| The Other Guys |  |
|
|---|---|---|
| You Borrow | $1,000 | $1,000 |
| You're Charged | $170 | $100 |
| You Pay | $1,170 | $1,100 |
|
You save $70!
(with direct deposit) |
||
With direct deposit
| Loan Amount | Finance Charge | Annual Percentage Rate | Total of Payments | Number of Payments |
|---|---|---|---|---|
| $100.00 | $10.00 | 260.71% | $110.00 | 1 |
| $200.00 | $20.00 | 260.71% | $220.00 | 1 | $300.00 | $30.00 | 260.71% | $330.00 | 1 |
| $400.00 | $40.00 | 260.71% | $440.00 | 1 |
| $500.00 | $50.00 | 260.71% | $550.00 | 1 |
| $600.00 | $60.00 | 260.71% | $660.00 | 1 |
| $700.00 | $70.00 | 260.71% | $770.00 | 1 |
| $800.00 | $80.00 | 260.71% | $880.00 | 1 |
| $900.00 | $90.00 | 260.71% | $990.00 | 1 |
| $1,000.00 | $100.00 | 260.71% | $1,100.00 | 1 |
Without direct deposit
| Loan Amount | Finance Charge | Annual Percentage Rate | Total of Payments | Number of Payments |
|---|---|---|---|---|
| $100.00 | $15.00 | 391.07% | $115.00 | 1 |
| $200.00 | $30.00 | 391.07% | $230.00 | 1 | $300.00 | $45.00 | 391.07% | $345.00 | 1 |
| $400.00 | $60.00 | 391.07% | $460.00 | 1 |
| $500.00 | $75.00 | 391.07% | $575.00 | 1 |
| $600.00 | $90.00 | 391.07% | $690.00 | 1 |
| $700.00 | $105.00 | 391.07% | $805.00 | 1 |
| $800.00 | $120.00 | 391.07% | $920.00 | 1 |
| $900.00 | $135.00 | 391.07% | $1,035.00 | 1 |
| $1,000.00 | $150.00 | 391.07% | $1,150.00 | 1 |
Military
| Loan Amount | Finance Charge | Annual Percentage Rate | Total of Payments | Number of Payments |
|---|---|---|---|---|
| $100.00 | $1.38 | 36.00% | $101.38 | 1 |
| $200.00 | $2.76 | 36.00% | $202.76 | 1 | $300.00 | $4.14 | 36.00% | $304.14 | 1 |
| $400.00 | $5.52 | 36.00% | $405.52 | 1 |
| $500.00 | $6.90 | 36.00% | $506.90 | 1 |
NOTICE OF RIGHT TO CONTACT THE OFFICE OF THE COMMISSIONER OF FINANCIAL INSTITUTIONS REGARDING CONCERNS OR COMPLAINTS. TOLL-FREE IN NEVADA (866) 858-8951.
Finance charge and APR calculated based on a 14-day term.
Revised 2/7/12
How Payday Loans Work: Payday loans are short-term cash loans usually secured by the borrower’s post-dated personal check. We do not require a post-dated check. Loan payment is deducted directly from your account.
Payday Loan Terms: Loan amounts generally range in amounts from $100 to $1,000. Average loan term is two weeks. Rates average 470% annual percentage rate (APR). For example, to borrow $100 for two weeks, the finance charges range from $15 to $30, is 390% to 780% APR. Our lower than average APRs and finance charges are shown above.
Two-Week Due Date: Payday loans usually have a two-week due date. If you receive income only once a month, you may need to extend your loan two or even three times incurring additional fees before receiving your monthly check to pay off the loan. This could make your loan very expensive. A different kind of loan might be better for you. Take advantage of our free financial counseling explained on the next page.
Debt Traps: Payday loans often trap consumers in repeat borrowing cycles due to the high costs and very short repayment terms. Borrowers average 8-13 payday loans per year from a single lender. Nearly 60% of all payday loans are either same-day renewals or new loans taken out immediately after paying off the prior loan. This means that over time, payday loan fees often exceed the original loan amount. Don’t get caught in the debt trap. Take advantage of free financial counseling explained below.
Member Notice: A short-term loan should be used for short-term financial needs only, not a long-term financial solution. Members with financial difficulties can visit Financial Management for free access to financial eduation and online tutorials.
Privacy Statement. Federally insured by the NCUA. We Do Business in Accordance with the Federal Fair Housing Law and the Equal Credit Opportunity Act. © 2013 One Nevada Credit Union. All Rights Reserved.
