Payday Alternative Loans
Lending that helps you grow.
what is a payday alternative loan?
Payday Alternative Loans (PALs) let existing credit union members borrow small amounts at a much lower cost than traditional payday loans, with manageable repayment terms.
In Washington, payday lenders can charge up to 390% interest—yikes! At Canopy Credit Union, PAL offers a far more affordable option with no credit check required. Our PAL loan gives you a hand up without the burden of high interest rates.
PAL highlights:
- Fixed 28% APR*
- Loan terms: 1–6 months**
- Borrow up to $1,000
*This is a fixed-rate loan. Terms and eligibility apply.
**For example, the maximum monthly payment for a $1000.00 loan for six months at a 28% APR would be $184.00. There is a $20 application fee.
- Ready to get started?