LLCU Holiday Loans

10/7/2020 Katie Salogga

Online Early Bird Application:

Apply online from Oct. 15th - Oct. 23rd.

Funds will be disbursed on October 28th.


Regular Application Period:

Apply online or in person from Nov. 2nd - Dec. 3rd.

Funds will be disbursed upon loan approval.

**Social Distancing Guidelines will be practiced in all LLCU lobbies during In-Person Application period. Please visit prior to visiting for a list of all guidelines.

Let’s review the details!*

  • Borrow up to $1,500: amount based on credit report
  • Credit Report ran on all applicants
  • 12 month term
  • 16.6% APR**
  • Limit 1 loan per member
  • Must be an LLCU member for 1 year to qualify
  • Direct deposit to LLCU account for minimum of 90 days required
  • Must set up automatic loan payment from direct deposit


*Holiday Loan Qualifications and Restrictions: Limit 1 loan per member. All applicants will have a credit report ran. Must be LLCU member for 1 year. Member must have Direct Deposit for a minimum of 90 days. Historical direct deposits must be enough to cover amount of new loan payment. Must set up Automatic Payment from the Direct Deposit. Must be in good standing with LLCU (member considered “Good Standing” if he or she is less than 20 days delinquent on his/her outstanding loans or if checking account has not been overdrawn for 20 days or more.  Members with Collateral Protection Insurance (CPI) placed on any loans DO NOT QUALIFY. Additionally, unemployed members or members in active bankruptcy, DO NOT QUALIFY. If member has a holiday loan balance from previous year, it must be refinanced within this new loan. The refinanced balance will be deducted from the maximum loan amount. **APR – Annual Percentage Rate. Loan APR of 16.6% based on a standard loan rate of 13.5% for a $1,525 loan (including a $25 processing fee) for a 12-month term. Resulting monthly payment would be $136.62.