Financial Assistance Loan

Review answers to some of our most frequently asked questions below. If you have any additional questions about your account status, please contact us.

We understand that financial hardships happen, contact us to discuss hardship programs or other arrangements.

Depending on the loan product, we may be able to adjust your payment due date to align with your financial schedule.

Yes, we may be able to provide reduced payment plans for eligible members. Programs are tailored to our members’ individual needs.

Yes, late fees are applied once the loan exceeds its grace period, which varies depending on the loan type. Interest accrues daily depending on the loan type. Mortgage loans follow an amortization schedule and Credit Cards use an Average Daily Balance (ADB) method.

Average Daily Balance Method

• The average balance of your credit card is calculated by adding up the balance at the end of each day during the billing cycle and dividing it by the number of days in the billing cycle.
• The interest is calculated by multiplying the average daily balance by the daily periodic rate, then multiplying that by the number of days in the billing cycle.

Ignoring the debt may result in further collection efforts including reporting late payments to the credit reporting agencies, repossession, foreclosure and/or assigning the account to a collection attorney or agency. Do not hesitate to contact one of our experienced counselors for assistance.

We report accounts as late to the credit bureaus after the loan payment is more than 30 days past due.

Interest on accounts accumulates daily so if you are making an additional payment towards your loan, you will need to make the payment on the day your minimum payment is due.

• Enrolling in automatic ACH from an outside financial institution
• Setting up Bill Pay with your primary financial institution
• Setting up alerts in Online Banking to let you know when you have a payment due