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Loans for Teachers

RelyOn now offers a Teacher Supply Loan for educators at only 1.00% APR. No need to use those high interest credit cards from other lenders. At RelyOn Credit Union, we have local educators covered.

Who is eligible for a Teacher Supply Loan?
A: School teachers, teacher’s aide, and school administrators

Are new members eligible for a Teacher Supply Loan?
A: Yes. There is no waiting period. 

What are the requirements of the Teacher Supply Loan?

  • Max loan amount = $1200
  • APR = 1.00%
  • Max term = 12 months
  • First payment date within 60 days
  • Copy of teaching contract or paystub to validate job title
  • Two references
  • Must be in good standing with RelyOn (deposit and loan accounts)

Is credit pulled?
A: No, credit will not be pulled.

Is automatic payment required?
A: No, but it is recommended that the payment is set up on ACH or drafted from a RelyOn account.

Will the Teacher Supply Loan be reported to the credit bureaus?
A: Yes, the loan will be reported to all three credit bureaus monthly.   This will be a great way for the member to build credit.