What is a Payday Alternative Loan? CBC’s new Payday Alternative Loan was developed to give our community a better option when they are in need of fast funding in a pinch! What makes our payday loan different from a payday advance loan? Our loan rate is FIXED for the life of the loan. Low rates regardless of credit Applying is fast and easy and can be done in the branch, over the phone, or you can apply online in as little as 5 minutes. Get started now Apply Online Frequently Asked Questions Do I have to be a member to apply? Yes, in order to get a Payday Alternative Loan, the applicant must be an existing CBC member for at least 90 days. Is there an application fee? Yes, there is a one-time application fee of $20 regardless of loan amount. Is there a time on job requirement? Yes, you must have at least 3 months at your current employer to qualify. How much can I borrow? Loan amounts are between $250 and $1,000 on approved credit.