Howard University Employees Federal Credit Union
 
   

2nd Chance Loans

Everyone deserves a 2nd Chance

Mistakes happen. We understand that the economy has taken a toll on credit reports and budgets, so here’s your 2nd Chance Loan.

  • Borrow up to $1,500
  • 12 months repayment term
  • 18% APR*
  • Direct deposit or payroll deduction required assuring all your payments are made on-time.
  • Build savings as you repay - a portion of your payment goes directly into a club savings account.
  • No collateral required all we need is your commitment to credit repair and your signature!
  • No penalty for pre-payment
  • $50.00 application fee
To qualify for the loan, members must complete the Credit Matters module of the Balance Financial Fitness course. Upon completion of the module, simply present the certificate of completion and a $50 non- refundable application fee to us and complete the application process. Your HUEFCU account must be in good standing and must have been open for three (3) months. In addition, you must have no other unsecured loans with HUEFCU outstanding.

Learn how to raise your credit score while you build savings and good habits for managing your money. This loan can help you reestablish your credit as we report monthly on your credit report. This is a great opportunity to pay off some smaller balances that have been a burden. Visit our office to speak with a HUEFCU representative.

Get started today!
Apply now.

 
     
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