AFEU-Secured Menlo Survey Federal Credit Union (MSFCU) Emergency (ASMSE) Loan Program

money

Recently, AFEU worked with Menlo Survey Federal Credit Union (MSFCU, https://www.menlosurveyfcu.com/), USGS’s credit union, to allow NASA employees to become members. Credit unions typically have low interest rates for cars, mortgages, etc., and as a NASA employee, when you join MSFCU, you may take advantage of those rates: MSFCU’s current rates: https://www.menlosurveyfcu.com/rates.php?e=795

In addition, as a benefit of your AFEU union membership, you may be eligible for a one-time emergency low-interest loan (max amount of $2,400), under your union’s AFEU-Secured Menlo Survey Federal Credit Union (MSFCU) Emergency (ASMSE) Loan Program.

AFEU has specific eligibility requirements and restrictions regarding these emergency loans:

  • The requester must be an AFEU member in good standing for at least the past year (365 days).
  • The requester is eligible for an ASMSE loan one-time only.
  • The requester must have a FICO Credit score of at least 680 to be confirmed by MSFCU using the Credit Bureau of their choosing.
  • The maximum loan amount is $2,400 and the maximum loan duration is 13 months.

In order to initiate the ASMSE loan process, AFEU members must:

  • Complete the AFEU loan request form, available here
  • Submit it to the treasurer (address on form) for verification of eligibility, who will then forward it to MSFCU
  • The employee then works with MSFCU to determine loan eligibility.

The current rate (Oct. 2015) for these low-interest AFEU guaranteed loans is approximately 2.2%, but may change at the discretion of MSFCU.