Welcome to the Virginia State Employee Loan Program. This program is available to active, classified full-time non-probationary employees who have been employed with the Commonwealth for at least 12 months. Employees who are paid on a monthly or semi-monthly (1st and 16th) are eligible for this program.  At this time, employees of Independent agencies, wage employees, and employees on disability are not eligible.

Please plan ahead and allow 2-3 business days for your loan to be approved. Applications for first time loans may take 3-4 business days. While we attempt to approve all loans certified by payroll on the same day, the quantity of loans submitted each day has greatly increased.

The Virginia State Employee Loan Program requires employees to successfully complete an online financial fitness course and the online loan application. Loans are available in increments of $100, up to a maximum of $500 with an APR (Annual Percentage Rate) of 24.99% and repayment over an approximate six-month term. Employees may receive up to two loans per calendar year.

The goal of the Loan Program is to improve an employee's financial fitness through education and access to short term loans.  The program is also designed to help reduce employee stress caused by financial obligations.

This program is a joint project of the Virginia Credit Union and the Virginia State Employee Assistance Fund. 

Virginia Credit Union offers other loan products for larger amounts with various rates and terms. Before you apply for a Virginia State Employee Loan, you may want to check with the credit union first for other options that fit your needs. They can also process your loan request quickly.