JACKSONVILLE, Fla. – 121 Financial Credit Union here has introduced a short-term “Back to School” loan program.
The loans, which carry an 8% APR, are available in amounts between $500 and $2,500, and higher amounts are available at higher rates the CU charges on unsecured loans. The term is 12 months.
“With this economy, it is tough for families to handle expenses such as school,” said 121 Financial Credit Union CEO William Braddock. “That’s why we wanted to design a loan that would help members get what they need for school, but not put an undue burden on them by having to pay it back quickly, or by having it drag on past the next school year.”
