loans.jpg
Quick Cash-Line of Credit

Quick Cash is a personal line of credit offering NCCU members an approved, revolving spending limit. It is a very flexible form of loan in which NCCU agrees to make an amount of money available to you on certain conditions .Quick Cash can be used when and how you want.

Now when you need something for your home or personal use, you can get it very fast. NO more waiting. It's QUICKER and CHEAPER with NCCU!!!!

How it works

Once your line-of-credit is approved, you can withdraw money as you need it up to the specified limit. As you
pay off what you’ve borrowed, your credit revolves and you can use the principal again.

Let’s say you have a $5,000 line of credit. You use $3,000 and then pay back $1,000 toward the principal. You then have $ 3,000 in available credit as follows:

Quick Cash Limit                         $5,000
Amount used                                - 3,000
Balance available        $2,000
Principal repaid        + $1,000
New balance                                $3,000


What will be my spending limit?

On review of your application, you will receive an approved spending limit specially designed for your needs. Limits range from $500 to $10,000.

How Do I Access my Quick Cash?

You can access your funds 24/7. Simply withdraw through the ATM or over the counter. Use CUCall to get information on your account.  

Benefits

  • Saves you time: You no longer need to come in to the Loans Department every time you need a
    small loan. No more waiting.
  • Peace of mind: Knowing you have easy access to money in an emergency or when you need to buy or pay something urgently.
  • Quick access to low cost credit: For purchasing household items — furniture, appliances and electronics.
  • Saves you money: Use it to pay cash for consumer goods and benefit from cash discounts.
    No need to pay high interest on hire (higher) purchase (HP). HP interest rates can sometimes
    work out to as much as 50% per annum. With Quick Cash, you pay only 11% on amounts used.
    For Share Covered lines, the interest rate is 10%.
  • Protects your savings: No need to dip into your savings for meeting unexpected purchases
    and expenses.
  • Affordability: Small one-time application fee. Affordable minimum monthly payment of only
    3% of the limit. If Share Covered you pay 2.5%of the limit.
  • Personal Control: You control when and how much you borrow.
  • Free Coverage: You get Free loan protection coverage.

Requirements

To enjoy Quick Cash, all you need is:

  •  A good credit history.
  • 5% of the credit limit in Share/Savings.1
  • To pay a small application fee of $25 (nonrefundable).
  • Member Share based on the amount of loan
  • To be able to meet the monthly payment.
  • Credit Reports, if you've not taken a loan at NCCU before.
  • Member Shares/Loans click here!

Click here to view the Quick cash application form.  You can fill this in advance, print it and bring it along with you to the loans department.

Try Quick Cash!! It’s like having a loan pre-approved whenever you need it.
 

All loans are subject to NCCU’s Loan Policies and approval procedures

To find out details on what can be used as security click here.