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Emergency Relief: COVID-19
Emergency Relief: COVID-19

Updated June 5, 2020

We Are Here to Help

SchoolsFirst FCU continues to closely monitor the spread of COVID-19. We are prepared to help in ways that promote the health and safety of our Members and team, while upholding our deep commitment to serve as your trusted advisor.

For more than 85 years, we have supported our Members, in good times and challenging ones – and today is no exception. If you’re experiencing a hardship caused by COVID-19, please know your Credit Union is here for you.

Please see the emergency relief programs1 below that are available on savings, loans and credit cards you have with SchoolsFirst FCU.

Share Certificates

We understand you may need to access your savings, so we are waiving penalties for withdrawals on certificates before the maturity date. You may also qualify to waive overdraft and late fees.

Contact Us

For assistance with your share certificates, call us at 800.462.8328.

Auto, Personal and Other Consumer Loans

You may qualify to skip or defer payments up to three months or reduce payments up to 50% for six months. During this time interest will continue to accrue.

You won’t be charged late fees for skip or deferred payments.

Negative credit reporting will not occur during this period if your loan is current when you request to skip or defer payments.

Contact Us

To request a skip-a-payment, log in to Online or Mobile Banking and send us a message in the Message Center, select COVID-19 Help in the dropdown.

You can also call us at 800.462.8328 to discuss options and the best solutions for your personal situation.

Credit Cards

You may qualify to skip payments for up to three months. During this time interest will continue to accrue.

You won’t be charged late fees.2

Negative credit reporting will not occur during this period if your credit card account is current when you request to skip payments.

Contact Us

To request a skip-a-payment on your credit card, log in to Online or Mobile Banking and send us a message in the Message Center, select COVID-19 Help in the dropdown.

Real Estate Loans

Mortgage, Home Equity Line of Credit (HELOC) and Fixed Equity Loan payment assistance plans are available for eligible Members who are facing financial difficulty as a result of the COVID-19 pandemic.

You may qualify for forbearance3 of your monthly mortgage payment.

You won’t be charged late fees during the forbearance period.

Negative credit reporting will not occur during the forbearance period if your loan is current when you enter forbearance.

Contact Us

To learn more about forbearance of first mortgage payments and discuss the best solution for your personal situation, call us at 866.227.4394.

For assistance with your HELOC or Fixed Equity Loan call us at 800.462.8328, Ext. 8723; or log on to Online or Mobile Banking and send us a message in the Message Center, select COVID-19 Help in the dropdown.

You can also view Real Estate Loan Forbearance FAQs to learn more.

Money Management Advice

We partner with GreenPath Financial Wellness4 to offer one-on-one financial coaching with their certified financial counselors to help with debt management, savings, planning for your future and more.

Contact Us

Call a certified GreenPath counselor at 844.572.5923 or visit schoolsfirstfcu.org/advice for more information. GreenPath also offers financial advice to help you manage during these uncertain times.

Disclosures

1Emergency relief programs are not an offer for an extension of credit or a commitment to lend.

2Other fees and charges outlined in previously disclosed credit card agreement may apply.

3By entering into forbearance, you are able to temporarily suspend your monthly mortgage payments. This does not permanently relieve you of your obligation to make your payments. After your situation improves, you'll be required to repay the full amount of your forbearance. Options include paying the amount in a one-time payment, a short term repayment plan, or adding the amount due to the end of your loan. If you're still experiencing financial hardship, you may request to be evaluated for a loan modification or repayment plan.

4GreenPath Financial Wellness is not affiliated with SchoolsFirst FCU.

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TODAY'S RATES
Today's Rates
Auto Loans (New)
as low as 2.44% APR
36-Month New Auto Loan
We offer a range of competitive rates and flexible terms to fit almost every financial situation. Get pre-approved and visit the dealer with your financing in hand.

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Auto Loans (Used)
as low as 2.44% APR
36-Month Used Auto Loan
Whether you’re buying used, or want to refinance a loan from another lender to lower your payment, we can help you find the right solution.

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Mortgage (30-Year)
as low as 2.63% APR
30-Year Fixed Mortgage (Conforming)
If you are primarily interested in a low payment that won’t ever increase, and plan on staying in your home at least five years, a 30-year fixed mortgage may be right for you.

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Credit Card
as low as 8.50% APR
Inspire MasterCard
As with all our credit cards, you'll enjoy our everyday low interest rates, and because we charge no annual, balance transfer, or cash advance fees, you'll save more than with other higher rate cards.

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Share Certificate
as high as 0.95% APY
Minimum opening deposit: $500
Rates among the best in the U.S. compared to bank CDs.

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