St. Louis Community Credit Union

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Payday Loan Alternative

We all face times in our lives when money is tight and we need cash to tide us over until the next payday.  In these moments, consider a Freedom Line of Credit, a payday loan alternative, from St. Louis Community.

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.  At St. Louis Community, we won’t charge you outrageous rates or fees.  Plus, a portion of your loan advance is put into a mandatory savings account at the Credit Union to help you get back on track.

Freedom Line of Credit features:

  • Must be a current member of St Louis Community Credit Union
  • Must have an active checking account in good standing that has been open for at least 90 days
  • Maximum loan amount: $500
  • No credit check
  • Annual fee of $25 - $55
  • Automatic transfer of payment available for your convenience
  • Maximum term: 90 - 180 days
  • Each Freedom Line of Credit advance requires a 10% deposit into a restricted access savings account at the Credit Union to help you avoid borrowing in the future.
  • Financial counseling available and encouraged at no additional charge

A Freedom Line of Credit should be used for unforeseen or emergency expenses only. Other types of loans available at the Credit Union are less expensive.

Break free from traditional payday lenders who take advantage of your need.  To apply for a Freedom Line of Credit, visit the St. Louis Community Credit Union office nearest you.


Advance your Freedom Line of Credit Online!

Why call or wait until your favorite St. Louis Community branch is open to advance your Freedom Line of Credit (FLOC)? You can now advance your funds 24/7 using Online Banking.*

Here’s how:

  • Login to Online Banking
  • Click on the red "Services" tab
  • Select "Freedom Loan Advance"
  • Go to "Requested Add-On Amount," then enter the amount you would like to advance
  • At "Share Add-On Funds will be deposited to," select the account you want to receive the advance
  • Review your selections and then hit "Submit"
  • Remember that 10% of your advance will be transferred to your Freedom Savings account

That’s it! At any time you have the right to opt out of this service. Opting out will remove the ability to complete future FLOC advances online. To opt out, please see any teller or Member Service Representative, or call us at 314-534-7610.

* Any party to whom you provide your username and password to access your online account, but who is not personally obligated on the Freedom Line of Credit (FLOC), may take advances without your knowledge or consent, and you are liable for such advances. This new enhancement only applies to FLOC loans. Minimum advance limits remain at $50. Continued advances on open lines of credit are contingent on a positive credit union membership status. This new feature is not available through our mobile banking app.