Payday Alternative Loan | Neighbors Federal Credit Union
It has been brought to our attention that several members have received phone calls and text messages appearing to be from Neighbors Federal Credit Union. In these communications, they are asking for sensitive information such as debit card numbers, PIN numbers, online banking information, etc. Neighbors WILL NEVER ask you for this information. These calls and texts are part of a phishing attempt targeting financial institutions. Your information has not been compromised and we have not suffered a security breach of any kind. Please contact us at 225-819-2178 if you have any questions or concerns.

Payday Alternative Loan

Neighbors FCU Payday Alternative Loan “PAL” is a closed-end loan that can be advanced in amounts ranging from a minimum of $250 to a maximum of $1,000. Created as an alternative to payday lenders, the Neighbors PAL offers a short-term loan to help you make ends meet.
mom and son


  • $250 – $1,000 advance
  • $20 application fee
  • Length of Loan: 1 month minimum to 6 months maximum
  • Payments to be made monthly in equal amounts. Last payment will be remaining balance + interest.
  • Limit of 4 PALs per calendar year


  • Must be at least 18 years of age
  • Must be a Neighbors member for at least 90 days
  • Must be employed with the same employer for at least 12 months
  • May not be delinquent or negative on any NFCU accounts
  • Must provide 2 most recent paycheck stubs

Apply by phone today

Payment begins 30 days from contract date. 24% APR (Annual Percentage Rate) with Direct Deposit and automatic payment; 26% APR without Direct Deposit and automatic payment. Member is allowed one PAL loan at a time. Balance must be paid in full before another advance is taken. No roll-overs. This product does not qualify for Skip-A-Pay. Minimum income to qualify is $1,300 per month (gross). Loan amount is limited to 30% of gross monthly income, up to $1,000. 50% of loan advance is frozen in a share account until the loan is paid in full. After a second advance, the member must complete consumer credit counseling with GreenPath Financial Wellness before receiving the third advance.
Example repayment schedule: 6 month loan of $500 at 26% APR results in a monthly payment of $89.68.