Payday Alternative Loan (PALs)

Have You Ever Thought One More Paycheck Would Make All the Difference?

Get funded fast and repay quickly. If you are a TopMark member in good standing for at least 90 days and have no outstanding or delinquent TopMark account, you may qualify for a short-term loan to cover your emergency. We can bridge your funds until payday, or provide a quick loan without excessive rates or fees.


Don't Fall Deeper into Debt with Hidden Interest Fees

Installment or payday loans can be deceptively expensive. Members are pushed by predatory lenders to renew their loans over and over again. The practice of payday lending is slowly being regulated out of existence, but it's unclear where people with modest means will find short-term loans instead. That's why we developed our safe, affordable Payday Alternative Loans.

We all face times in our lives when money is tight and we need cash to tie us over until the next payday.  When unforeseen financial emergencies arise, the last thing you need is to be taken advantage of by a lender who is motivated by profit, not your well-being. 

TopMark Payday Alternative Loan Requirements:

  • A $20.00 application fee (non-refundable)
  • The interest rate is 21% APR
  • Loans from $200.00 - $1,000.00
  • The loan term cannot exceed 6 months
  • Applicant must be at least 18 years of age
  • Applicant must be a member for at least 90 days
  • Applicant must be consecutively employed for at least 90 days
  • Applicant must have direct deposit going into the account for at least 60 days
  • Auto-pay is required
  • No credit check is required
  • Applicant cannot be past due on any other loans with the credit union
  • Applicant cannot have a negative balance in any account with the credit union
  • Applicant’s income must be verifiable, with two paycheck stubs
  • Applicants may only have one “PAL” loan on their account at any given time
  • The maximum number of “PAL” loans is three (3) for one applicant within a 6 month period
  • A late fee of $25.00 will be charged on loans that are 10 or more days past due
  • Financial counseling available and encouraged at no additional charge.  The borrower is encouraged to view the financial counseling recources through MoneyEd

*APR means Annual Percentage Rate, and is subject to change without prior notice. Other terms and conditions may apply. Contact a TopMark FCU Branch for more information.