Dealing with a financial emergency? Let us help bridge the gap.
It's a helpless feeling when your savings balance is low, but you have big bills to pay or major expenses to cover. The good news is that at Afena Federal Credit Union, we have a helpful solution.
Our Bridge the Gap Loan is designed to get cash into your hands quickly so you can pay what you owe and buy some financial breathing room.
Bridge the Gap Loan
- Bridge-the-Gap program is a partnership between Afena Federal Credit Union and the Community Foundation of Grant County
- Flexible loans for low-income individuals and families
- Much lower interest rates than predatory payday loans offered by shady private lenders
- Can be used for auto and home repairs, appliance replacement and other financial emergencies
- If you've been an Afena member for more than 6 months, you can borrow $200 to $2,000
- If you've been an Afena members for less than 6 months, you can borrow $200 to $600
- Repayment terms vary depending on the loan amount, but are designed to keep monthly payments low and affordable
Loan eligibility requirements
- Must live in Grant County
- Have an income of no more than 80% of the 2024 Median Family Income limits
- Be able to provide 2 weeks of pay stubs
- Must open share account ($5 minimum balance required to open) and become a member of Afena Federal Credit Union
Other loan advantages
- Strengthen your credit rating as you make on-time payments
- Build a savings balance of at least $100 for future emergencies. (Under Afena's repayment plan, some funds go into your savings account. Once your Bridge-the-Gap Loan is re-paid in full, those funds are available for your use.)
- Receive free, personalized coaching from trained certified financial counselors to put them on the path to future financial success
Afena Federal Credit Union is a full-service financial institution headquartered in Marion, IN that serves Grant, Wabash, Blackford, Jay, and Wells counties.
