Preapproved?
While it might seem like your problems could be solved when you get a blank check in the mail, don’t be fooled. Those checks promising cash or an easy way to consolidate credit card bills or pay off loans are attractive on the surface but what lurks below in the fine print can be ridiculously high-interest rates, fees on top of fees, balloon payments and tricky terms. One of the ways these offers confuse people is by showing monthly payments that look reasonable but they fail to mention how long it will take to pay off these quick and easy loans. In many cases, these lenders are hiding the fact that the interest rates they charge can add up to 50% to the original loan amount by the time they are repaid.
In 5 years will you even remember why you borrowed that $5,000? And most importantly, because of sky-high fees and interest rates plus longer terms, you will have to pay almost $9,000 to borrow $5,000! Not such a great deal after all.
Here’s what they aren’t telling you:
• Interest rates as high as 300%
• Unnecessary or excessive fees including high late fee penalties
We’re Here to Help
As a member, you save on interest and don’t get gouged by excessive fees with loans from Ironworkers CU. We understand that life happens, and you don’t have to have perfect credit to get a loan at the best possible rate from an organization that will work with you to achieve your goals. We’ll make the loan process easy for you! Stop by a branch or call us at 1-877-769-4766 or apply online at ironworkersfcu.org/loans. Stop paying fees and high rates. Start saving today!
