Start Your Journey
0% Interest Loans that Create Financial Well-being
($500 – $1000 loan amounts are available)
Apply now to secure your spot! Due to high demand, approved loans are disbursed on a first-come, first-served basis, with an estimated 90-day wait. Don’t miss out—join the many who have already benefited!
(only if first loan is paid in full)
How do I use my Impact Loan?
PROGRAM FAQs
Loan Application Instructions
Who Is Eligible?
A full-time or part-time employee who has been actively employed at PSCU for a minimum of one year and must not be on probation at the time of the request
PSCU employees who are VPs or above are not qualified to receive a hardship loan
You must be 18 years or older
What can you do when the unexpected occurs?
When the unexpected happens, it can be difficult to pay for your basic needs. Payday loans, credit cards, and other high-interest debt are often used as a short-term solution for your financial problems, however, they come with extremely high-interest rates and fees, ultimately making them a long-term burden that makes the problem worse, rather than better.
PSCU offers Impact Loans for our employees at 0% interest with an extended repayment schedule. Once you pay back your loan in full, you are also eligible to receive a Savings Incentive bonus in order to help build an emergency savings fund. This helps households recover from financial hardship without getting trapped in another debt spiral from high-interest lenders.
What can you do when the unexpected hits?
When the unexpected happens, it can be difficult to pay for your basic needs. Payday loans, credit cards, and other high-interest debt are often used as a short-term solution for your financial problems, however, they come with extremely high-interest rates and fees, ultimately making them a long-term burden that makes the problem worse, rather than better.
PSCU offers Impact Loans for our community at 0% interest with an extended repayment schedule. Once you pay back your loan in full, you are also eligible to receive a Savings Incentive bonus in order to help build an emergency savings fund. This helps households recover from financial hardship without getting trapped in another debt spiral from high-interest lenders.
Who Is Eligible?
You must be a PSCU Employee and have been employed for at least 90 days
You must use the loan to pay for an unforeseen financial hardship
You must be 18 or older
How It Works
Impact Loans are a way to help you achieve financial well-being by giving you access to an interest-free loan that has an extended payback period. It also helps you save for emergencies. They are interest-free and are not reported to the Credit Bureau.
Step #1 – Apply
The first step to receiving an Impact Loan is to apply by clicking the Getting Started button on this page. It is a fast process that is anonymous so that you don’t have to worry about sharing your situation with anyone beyond The Community Impact Fund which administers the loans on behalf of PSCU.
No one at PSCU will ever see your application or related documentation. Once approved for an Impact Loan, your funds will be disbursed directly into your bank account via ACH.
Step #2 – Cover Your Expenses
The second step is to use the proceeds of your Impact Loan to cover any emergency expenses that would otherwise set you back further financially as described in your loan application. Examples of eligible expenses include:
- Housing expenses (rent, mortgage, utilities)
- Healthcare
- Childcare
- Transportation
- Food
- Housing
- Taxes
- Debt
- Death/Natural Disaster
Step #3 – Build Savings
Part of financial well-being is having the security of an emergency fund. PSCU believes in this so much, that we want to provide a bonus for you once you pay your Impact Loan back in full.
This step was designed to speed up your progress toward building an emergency fund on your own. Click here for more information.
What Does Financial Well-being Look Like?
Control over your day-to-day and monthly finances
Financial well-being means that you have full control over your finances. You have a plan and know what your money is going to do day-to-day and month-to-month. You are in control of your money and not the other way around.
Financial freedom to make the choices that make you happy
Financial well-being is having the ability to make the choices in life that make you happy so that you can fully enjoy life and not be a slave to your money.
Ability to cover emergency expenses
Financial well-being means that you can cover unplanned emergency expenses without using high interest debt. With the Impact Loan you can borrow at 0% interest, and when you pay it back, we help you save for a rainy day!
On track to meet your financial goals
Financial well-being is being on track to meet your financial goals, whether that be to purchase a new car, a home for your family, fund your kids’ college education or to save for your own retirement.