MyCash

MyCash logo

Life happens! Whether you need a little extra cash for unexpected expenses, groceries, car repairs or anything else in between, our MyCash loan can help! MyCash is different. It’s a loan but no credit report or minimum credit score is required. Decisions are based on your relationship with Edwards Federal Credit Union, not your credit score. In less than 60 seconds, you can get money when you need it quickly and easily.

 

Features

• No credit check required
• Borrow between $200 and $2,000
• 12-month term
• Decision in seconds
• Proceeds deposited instantly into your Edwards FCU account
• Build or repair credit
• Fast, easy, contactless application process 24/7

 

Requirements and Eligibility

• Must be credit union member for at least 6 months
• Must have reoccurring direct deposit of pay or other benefits
• Must be 18 years or older
• Payments are drafted monthly from the account receiving the loan proceeds and on the date selected at time of application
• Eligibility for Primary Account holder only
• Only allowed one MyCash loan at a time
• $20.00 application fee*
• 24.99% APR**

MyCash Payment Examples:
Loan AmountMonthly PaymentTerm
MyCash Payment Examples:
Loan AmountRate**Monthly PaymentTerm
$50024.99$47.5212
$1,00024.99$95.0412
$2,00024.99$190.0812
 
**APR=Annual Percentage Rate. Subject to eligibility and approval. Rates effective 2/7/2024.

Apply Here

Enrolled in Online Banking? Apply today by accessing “More” and MyCash in your online banking experience.

 

 

QUESTIONS?

WHAT IS THE MAXIMUM AMOUNT I CAN BORROW?

Loan amounts are between $200 and $2000.00.

ARE THERE ANY FEES?

Yes. There is a $20.00 application fee that will be collected at the time of your application.
The application fee is non-refundable. The fee is assessed at time of application and charged to your Edwards Fdereal Credit Union Checking or Savings account regardless of whether the loan is approved, denied or declined by the member.
If your payment is 15 or more days late, there is a Late Payment Fee of 5% of the payment due.

SINCE MY CREDIT REPORT OR SCORE IS NOT CONSIDERED, HOW IS THE LOAN EVALUATED FOR APPROVAL?

When evaluating your application, a loan decision takes into consideration your membership, including factors such as payment history and deposit activity. You must also be 18 years or older and the primary member to qualify. Unfortunately, this is not available to joint accountholders.

To improve your membership standing, you can do things like:

  • Use of Edwards FCU as your primary financial institution and have your pay or other benefits direct deposited into your account
  • Use your checking account regularly for daily purchases
  • Stay up to date on your loan payments
  • Avoid excessive overdrafts to your account

CAN I FUND MY LOAN IN A BRANCH?

No. If approved, proceeds must be deposited into your Edwards FCU account at the time of the application.

CAN I APPLY IN A BRANCH OR BY PHONE?

No. MyCash is only available from our website or Online Banking.

*Fee will be collected at the time of the application from your Edwards FCU account and must be available funds. Fee will be collected regardless of loan decision. **Subject to eligibility and approval

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