Whether you need help with unexpected bills, emergencies, or other immediate cash needs, Golden 1 may help you get the cash you need today with LifeLine Advance. Unlike many payday cash advance services, LifeLine Advance offers members a low Annual Percentage Rate (APR). While this new service may help you resolve your short-term cash needs, it also helps you establish good long-term money management skills.
The LifeLine Advance allows you to take a cash advance against your next Direct Deposit in an amount up to $300. This may alleviate the stress of being short on funds until your next deposit. With every advance, an additional 15% of the advance amount will be automatically deposited into a Golden 1 LifeLine Savings Account. For example, if you take a $300 advance, you will be required to take an additional 15% of the $300, or $45, as a Savings Advance.
Following your approved application and receipt of your Direct Deposit, your cash advance (up to $300) will be available at any Golden 1 ATM. Subsequent advances cannot be taken until seven calendar days after your prior advance, including your Savings Advance and finance charge, is paid in full.
The finance charge on your LifeLine Advance is a low Annual Percentage Rate of 15%.
Repayment will be taken from the next Direct Deposit to your Golden 1 checking or savings account (which must be within 35 days of the advance). However, if you wish to repay earlier, you may make a payment at any branch, Golden 1 ATM, or through an account transfer.
A special Golden 1 LifeLine Savings Account will be opened for you, and an additional 15% of each advance amount will be deposited into this account. The funds will accrue dividends at the same rate as a regular Golden 1 savings account. Access to this account will be restricted until the balance from LifeLine Advance transfers reaches $300 or more. At that time, the account may be used as a regular Golden 1 savings account, and funds are available for withdrawal.
By putting a little aside with every advance, you will have a balance in your LifeLine Savings Account that belongs to you, and you’ll be more prepared when unexpected expenses arise. Plus, you’ll be earning dividends on the money you save.
A LifeLine Advance is a good solution for short-term cash needs. The Golden 1 has many free financial education resources, and we encourage you to become more informed about money management.
To be eligible for a LifeLine Advance, a member must:
A LifeLine Advance is not intended to be a long-term financial solution. However, it can help you meet an immediate or unexpected cash need. For more information or to apply, please visit any Golden 1 branch or call our Member Service Contact Center at 1-877 GOLDEN 1 (1-877-465-3361).
This credit union is federally insured by the National Credit Union Administration.
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