Low-cost access to funds as little as $100 when you need it
Key Features
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More affordable than a payday loan
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Withdraw funds 247 via digital banking
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Use for Overdraft Protection
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A Kwik Cash Line of Credit is a revolving line of credit, meaning that you can draw funds from it as long as it remains open. Many people use it as a temporary source of emergency cash since it’s a more affordable alternative to payday lending or title loans.
With a Kwik Cash Line of Credit, you have access to loan funds 24/7 via digital banking, or you can contact us by phone or in-branch to make a withdrawal.
You can also use your Kwik Cash Line of Credit for Overdraft Protection to cover your checking account if you overdraw. If you have available Kwik Cash funds, they will automatically transfer to your checking account in $100 increments to bring your balance above $0. A Kwik Cash Line of Credit makes overdraft protection much less expensive than overdraft charges.
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Best if you... |
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Need access to cash funds of $100 or more at your convenience |
Need a one-time cash deposit of $1,000 or more |
Need access to funds, up to a predetermined limit, when buying online or at the store |
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Brief Description |
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A Kwik Cash is a revolving line of credit, meaning that you can draw funds from it as long as it remains open. |
A personal loan, or installment loan, is a fixed amount of cash borrowed, deposited as a lump sum, and repaid over a set period of time. |
A credit card is a revolving line of credit, meaning that you can draw funds from it as long as it remains open. |
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Minimum Loan Amount |
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$100 |
$1,000 |
None |
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Access to Funds |
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You can withdraw funds at any time via online and mobile banking, by phone, or in-branch. |
Your loan officer will either deposit the funds into your account or write out a cashier’s check with the full amount. If you apply for a loan with the Quilo™ pop-up on the Personal Loans page (for loans up to $25,000), approved funds will be deposited within 24 hours. |
You can make a purchase by swiping your card or entering card information online at any time. |
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Repayment Terms |
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Your monthly payment is calculated based on the amount you’ve drawn from it plus the remaining balance from previous months (AKA outstanding balance). Payments are 5% of the outstanding balance, or $15, whichever is more, and recalculated each time a draw is taken. All Kwik Cash payments are due on the 28th of the month. See your loan paperwork for any fees, like late fees, that could occur. |
You will make fixed, equal monthly payments based on the duration of the loan. Interest accrues at a rate based on your credit score and the term of the loan. You pay interest and principal with each contracted monthly payment (pre-payment is allowed). See your loan paperwork for any fees, like late fees, that could occur. |
Your monthly payment is calculated based on the amount you’ve spent plus the remaining balance from previous months (AKA outstanding balance). Interest is accrued on the outstanding balance. You can pay the balance in full, instead of just the minimum payment due, to avoid interest entirely. See our fee schedule and your loan paperwork for any fees, like late fees, that could occur. |
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Sound like a great financing option for you? |
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For loans up to $25,000, use the Quilo™ pop-up on the bottom left corner of the Personal Loans page to apply. |
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The Consumer Financial Protection Bureau loosely defines a payday loan as a “high cost loan, generally for $500 or less, that is typically due on your next payday.” Payday lenders often operate from convenient storefronts, whose lobbies mimic the look and feel of a fast-food restaurant, touting low to no credit requirements and quick payouts.
Many states have outlawed payday lending, as it is widely considered to be predatory. However, payday lending remains legal in Wisconsin, with some loans reaching up to 574% APR* (yes, you read that right) according to USStatesLoans.org (*APR is Annual Percentage Rate).
Historically, credit unions like FCCU have been a great alternative to payday lenders, offering small dollar loans at reasonable rates with relatively quick payouts for members with low to no credit— All the benefits of a payday loan with the backing of a trusted loan team who want to put you in a better financial position than when they met you.