Flex Your Budget, Pay Your Way.

Introducing Buy Now, Pay Later (BNPL) from One Detroit Credit Union! For the first time, you can turn your everyday debit card purchases into simple, manageable monthly installment plans. Get extra funds fast for the things you need and spread the payments over time, all from the convenience and security of your One Detroit online banking account.

Why Use Buy Now, Pay Later with One Detroit?

While third-party BNPL apps are popular, our program is built with our members' best interests at heart.

• Bank with People You Trust: When you use BNPL with us, you get the confidence of knowing we understand your financial needs.
• Ultimate Convenience: Forget downloading extra apps. View and manage all your plans directly within your existing One Detroit digital banking.
• Simple and Fast: There are no lengthy loan applications to fill out. Eligible members will see offers automatically.
• No Credit Check: We do not perform a credit check to determine your eligibility for BNPL. Using this service and paying on time will not affect your credit score.

Two Great Ways to Pay Over Time

Our BNPL program offers two flexible options to fit your needs.

1. Split Your Payments (SYP) Have you already made a purchase? No problem. Our SYP option allows you to take an eligible debit card purchase you've already made and pay for it in installments over time. This works for most purchases, whether you shopped online or in-store.
2. Plan Your Purchase (PYP) Planning for a large expense or facing an unexpected bill? The PYP option lets you see how much you are pre-qualified for, accept an installment plan, and get the funds deposited directly into your account to use for your purchase.

Program Details at a Glance

Here are the high-level parameters for One Detroit’s BNPL program. Eligibility is evaluated for each member, so not all members will qualify for the maximum terms.

Frequently Asked Questions (FAQs)

• What can I use BNPL for? BNPL is perfect for debit card purchases like new clothes, technology upgrades, travel, and school supplies. It's also a great tool for unexpected expenses like medical, dental, or veterinary bills. What purchases are not eligible for BNPL? Offers will not be available for certain transactions, including loan payments (mortgage, auto, credit card), cash-like transactions (ATM withdrawals, cash advances), and lottery tickets.
• When will this service be available? Buy Now Pay Later is now available to all eligible members!
• How do I know if I’m eligible? Eligibility is determined based on your overall relationship with One Detroit Credit Union, including factors like your average deposits, average daily balances, and existing loan repayment history.
• How do I find my BNPL offers? When a debit card purchase qualifies, the offer will appear in the Buy Now, Pay Later section of digital banking. Members with eligible offers will also receive a weekly email notification.
• How long does an offer last? Offers expire 60 days after the transaction's posting date.
• What happens when I accept a BNPL offer? When you accept an offer, you are creating a simple installment loan. The funds for the loan are then automatically deposited into your checking account.
• Is there a late fee? Yes. A late fee of $29 will be charged if a payment is not made within the 7-day grace period after the due date.
• What if I return an item I purchased using a BNPL plan? The BNPL plan will not be affected by a return. You can choose to pay off the plan early with your refund or continue with the scheduled payments.
• Can I pay my plan off early? Yes, you can pay your plan off early at any time without penalty through online banking or by contacting us directly.

Ready to Get Started?

Look for the Buy Now, Pay Later section in your One Detroit digital banking session to see your available offers!

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*APR = Annual Percentage Rate. Rates and terms are subject to change without notice. Monthly payment example per $1,000 borrowed on a loan term of 6 months at a rate of 15.00% Annual Percentage Rate is $174.11. 90-days membership and checking account required. Not all members will qualify for Buy Now Pay Later offers. Actual approval amount and terms are dependent on qualification and lending criteria. May be discontinued at any time. Some restrictions apply. See Credit Union for details.