NYCERS’ online loan application enables Tier 4, Tier 6 and eligible Tier 3 members with a registered MyNYCERS account to log in to their accounts, calculate various loan options, and then apply for a loan online. If you apply online and select Direct Deposit (Electronic Funds Transfer, or EFT), your loan will be processed in three (3) business days and your funds will be deposited directly into your savings or checking account.