Interest Free Loans for Military Personnel

Posted by Online-Payday-Loans.org on Jun 20, 2006 in Alternatives

Many payday lenders target US military personnel:

• service personnel have a steady, guaranteed income
• many service members are young
• many young people do not consider time value or cost of money

There are, however, a wide range of interest free loan options available to American armed service personnel that are excellent alternatives to payday loans…

Financial assistance available to US military personnel and their families include funds:

• for emergency travel (burial of a loved one, etc.)
• for food, temporary lodging, urgent medical needs
• to avoid eviction, utilities disconnection, etc.

The following sites can help service members:

• American Red Cross Emergency Financial Assistance for Military Members and Families (External Link)
• Air Force Aid Society – Official Charity of the U.S. Air Force (External Link)
• Army Emergency Relief (External Link)
• Coast Guard Mutual Assistance (External Link)
• Navy-Marine Corps Relief Society (External Link)

Another alternative is an Asset Recovery Kit (or ARK) loan:

• no-interest loan of up to $500
• one-time, $6 fee
• if you take out more than one loan, you have to go for credit counseling

ARK loans are available at the following credit unions:

• Fort Bragg Federal Credit Union (External Link)
• Pentagon Federal Credit Union (External Link)

The interest free loans offered at the above sites are excellent alternatives to military payday loan companies.

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