Borrow and Save Loans

Are you in need of an emergency loan? Are you facing a gap between paychecks? Looking for a way to build your credit and your savings? A Borrow and Save loan may be perfect for you.

What Is Borrow and Save

Borrow and Save is a safe, convenient small-dollar loan that also lets you save. It gets you immediate access to the cash you need now while you build savings for the future.

How? Part of this short-term loan starts a savings account at the credit union. Once you’ve fully repaid the loan, the savings and the dividends they’ve earned are yours.

Borrow and Save can build your credit and strengthen your financial health.

Borrow and Save Benefits

Simple application process
Very affordable with low fees and rates
Available exclusively through your credit union
Credit union membership connects you to other affordable financial products and services
Access free financial counseling and education services

Is Borrow and Save Right for You?

This loan program may be a good choice if you need:

An emergency loan
To bridge a gap between paychecks
A way to build credit and your savings

Why Participate?

Quick, easy access to financing¹
Affordable alternative to high-cost payday loans
Increased financial stability with automatic savings
Ability to build or improve credit history

Eligibility

Ability to repay (check the loan application requirements)
Proof of income
Photo ID
Prior credit union membership not required

Terms

$500 for 6 months²
$1,000 for 12 months²
Interest rate as low as 6% APR³
$10 application fee
50% required savings

How to Apply

Simply complete the HOPE consumer loan application at a branch or, if you are a current member, access the online loan application by using HOPENet Online banking. Provide the required information and documentation, and we’ll take care of the rest.

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