Cash & Carry Loan

A payday loan seemed like a really good idea at the time…

They can seem like a lifesaver if you need cash quickly, but the high fees and short payment terms can lead to a cycle of debt. If you're looking to escape the cycle, we may be able to help!

Our Cash & Carry^SM Loan is designed for members who are looking to break the cycle of payday loans. No credit check required! Stop paying those excessive payday loan rates, and instead get up to $2,000.00 from FedChoice quickly and reasonably. 

• Choose how much you need: $500.00, $1,000.00 or $2,000.00.
• Pay your $ 20.00 application fee.^*
• Your borrowed amount sets your rate and term:
  • $500.00 for 6 months at 16.99%
  • $1,000.00 for 9 months at 20.99%
  • $2,000.00 for 12 months at 24.99%

^{Eligibility Requirements}

There are some eligibility requirements for the Cash & Carry Loan listed below. Members must:

• Be a member in good standing with FedChoice member for at least 30 days^~

• Have direct deposit with FedChoice^{^}

• Not have more than 3 previous Cash & Carry loans in a rolling 6 month period⁺

• Limited to 1 Cash & Carry loan at a time. 

Submit your application and break the cycle today!

^~Member must be in good standing as defined by the Membership Agreement and Disclosures. Additional restrictions may apply. Members who have defaulted on a previous Cash & Carry loan at any time are also ineligible to re-apply. Debt Protection is not available on this type of loan.

⁺A rolling six-month period means the date of the new Cash & Carry request, not just a fixed calendar period. Example, a member applies for a Cash & Carry on October 15, FedChoice will review all Cash & Carry loans that the member would have had from April 15 through October 15. If the member hadhad three Cash & Carry loans in that look-back window, the member is not eligible for another Cash & Carry until enough time has passed that one of those loans drops outside the most recent six-month period.

*Member will be charged the application fee at the time of application.

^{^}Direct deposit amount must be enough to cover the loan payment.