InstaCash Frequently Asked Questions

  • This lending product allows us to help our members get affordable small dollar loans INSTAntly! These are a more affordable alternative for members who use payday loans.
    • Contactless, self-service
    • Available 24/7/365
    • Only six clicks in 60 seconds
    • No credit score required
    • Immediate automatic funding and no underwriting required
    • Builds good credit
  • You can apply in online and mobile banking only.
  • There is a $20 application fee every time, even if denied. Regulations state that fees will not be taken from the loan proceeds. Fees are taken at time of application.
    • Must be a member for at least six months
    • Must have a direct deposit of $500 or more montly for at least 90 days
    • Must have an active account with no charge-offs, negative balances (excluding Courtesy Pay), delinquincies, or negative warning codes
  • You can qualify for loan amounts between $200-$2000. The decision engine determines the amount of the approval.
  • Terms range between 3-12 months depending on the loan amount. You may choose your payment frequency and due date within 30 days of the loan date.
  • No, you may make extra payments if desired, but loan terms cannot be changed.
  • All InstaCash loans will have a 28% interest rate. While this may seem high, according to the Center for Responsible Lending, the average payday loan rate in Tennessee is 460%.
  • No, InstaCash loans are only available to the primary member.
  • Simple interest is calculated daily based on the balance.
  • Yes, InstaCash loans will report to the credit bureau.
  • No, these loans are not eligible for Common Sense Protection.
  • No, these loans are not eligible for Skip-A-Payment.
  • You may only have one InstaCash loan at a time. The current loan must be paid in full before a new loan can be approved. If you apply for a second loan, the application fee will be charged, and you will be denied. You will receive a warning about this in the application process.
  • By regulation, you may only have three InstaCash loans in a six-month period.
  • No, you can reapply at any time. However, you are limited to three InstaCash loans in a six-month period.
  • Yes, by default, InstaCash loans are setup for automatic payments during the application process. You may request an alternative payment method.