ABANDONED ACCOUNTS NOTICE: If your account has had no activity in the last three years, the State of Texas presumes it to be abandoned. We are required to send all abandoned funds to the Texas Comptroller of Public Accounts on or before July 1, 2019. Your unclaimed property will be transferred to the state if you do not call us about your abandoned account.
Are you struggling to make ends meet each month? Are you using payday loans to get by? Approximately 12 million Americans use payday loans each year according to one statistic by finder.com.
Always contact 5Point Credit Union before going to a payday lender. We want to help you meet your financial goals by offering low rates and flexible terms. Contact us today.

Here are a few things to consider before taking out a payday loan:

5Point Loan

  • Low Interest – Rates as low as 9.00%
  • Credit Reporting – All credit union loans are reported to all 3 major credit bureaus.
  • Flexible Terms – Up to 48 month terms are available.
  • Easy Process – Most loans can be submitted and have a decision made within a few minutes.
  • Local Decisions – Decisions made locally by lenders who you know and trust to do what is right for you.

Payday Loan

  • High Interest - The interest on payday loans can range between 300% and 900%.
  • Credit Reporting - This type of loan doesn’t help your credit score, even if you pay it on time.
  • Vicious cycle - Consumers who cannot afford to repay previous loans in full on due date, end up extending their loans. This results in additional fees added on top of the original amount borrowed.
  • Deception by lenders - Payday loan companies can be deceptive in the information they disclose because of limited regulations.

Apply for a 5Point loan here.