| Don't Get Caught by the Payday Loan Trap!
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Payday loans seem like a convenient way to get money when you need it
But did you know that you could end up owing double, or even triple what you borrowed to begin with? Don't get trapped by what seems like an easy alternative.
How can you avoid the trap? It's simple!
1. Save for emergencies! Every time you get paid, place a percentage of your earnings in your SCCU savings account. It will be there when you need it, and will earn interest when you don't.
2. Do your homework! It's important to understand loans and how they work. Before you sign any loan document, understand how much interest you will be paying, how it is calculated, and the payments you will be responsible for making.
3. Look to SCCU! The best place to look for a loan is your own financial institution. SCCU offers secured credit cards for students to help you learn to manage your money, and build your credit history at the same time!
When it comes to your financial future, a little planning can go a long way!
Let SCCU help build your credit!
Share-Secured Credit Cards are a great way to build your credit history. Developing good financial habits now will help you when it's time to buy your first car, and even your first home.
A share-secured card is secured with funds in your savings account. The amount that is secured is the same amount as your card limit- as low as $300 to start. A secured credit card can be opened at age 15 with a joint account holder who is a parent or guardian.
By obtaining a secured credit card with SCCU, you will avoid the high interest rates and fees that other lenders charge. here at SCCU, enjoy the following perks:
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Reasonable interest rates
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Online account management
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A variety of payment opetions
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And more!
Get yours today! Just call Express Service and have your account number or Social Security number available.
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