Crisis Relief Solutions
In uncertain times like these, we are making every effort to support our members during the crisis. Below are some ways that we are providing assistance to help relieve the potential burden many are feeling right now.
This special loan is designed to give much-needed relief during this time.
- Low Fixed Rate
- No Payment for 90 days
- Loan Amounts up to $5,000
For specific details on this loan, please contact our Member Services Call Center at 800.374.2758.
If you have accepted a deferment or extension on a current USSFCU loan in the past 90 days, you are ineligible for the USSFCU Relief Loan. Additionally, If you apply and your Relief Loan is approved and funded, you will be ineligible for deferment or extension on this loan or any other existing loan you have with USSFCU.
Steps to Apply for the Relief Loan
Apply Through Online Banking
- Log in to CUAnyHour+ Online Banking.
- Once inside Online Banking, click the "Apply for Loan" tab in the top navigation bar.
This will take you to USSFCU's Online Application Platform.
Online Application Platform
- Click "Apply for a Loan" under "Apply Today"
- Under "What type of loan are you applying for?" select "Personal Loan"
- Log In to the Online Application Platform
- If you are using a new computer or device, you may have a Security Check and be prompted to answer a couple of personal identity questions you would have previously set up under your account
- Under "General Questions (Step 1 or 2) Would you like a fixed-term or a line of credit?" select "Fixed-Term Loan"
- Under "What's your primary reason for applying? (Step 2 of 2)" scroll down and select "Relief"
The rest of the process is the same as any other loan application.
Do you need more than $5,000 without the balloon payment? Our USSFCU Personal Loan could be the right solution to help you during these times. Whether you are looking to consolidate debt, have unexpected costs, need supplemental income or are simply preparing for the unexpected; our low-interest, fixed-rate loan can give you some financial peace of mind.
- As low as 7.49% APR3
- Loan amounts up to $70,000
- Terms up to 84 months
- No Pay 90 Day Option4
A flexible and affordable option to help you get through these uncertain times.
Skip-a-Pay Fee Refund5
- Select ‘skip-a-pay’ from our online banking platform.
- Fees automatically refunded on the following business day.
We understand that not everyone’s situation is the same and could require different solutions. If you find yourself experiencing difficulties in making payments or have additional concerns or questions, please contact us. We want to work with you to help get you through these uncertain times.
Loan Extension & Deferment
We are providing payment deferrals to qualified members with certain loan products for up to 90 days. If approved for a deferral, late fees will not be charged for the duration of the deferral period. Contact our Member Services Call Center for more information. Interest will continue to accrue during the deferment period.
Waiving Fees & Penalties
We are also waiving a number of other fees and penalties during this time. For more on the specific fees and penalties we are waiving, call our Member Services Call Center.
We will not report negative information to the credit bureaus for modified or deferred loans during the forbearance or deferral period.
For more information on how we can help, contact our Member Services Call Center
800.374.2758 | Monday-Friday, 8:30 am - 5:00 pm ET
Contact us anytime at [email protected]
Small Business Support
U.S. Senate Federal Credit Union is committed to helping your business through these unprecedented times by coupling with the Small Business Administration (SBA) to offer the Paycheck Protection Program.
The Paycheck Protection Program (PPP), a provision of the CARES Act, offers forgivable low-interest loans to small businesses facing uncertainty during the COVID-19 emergency, so they can retain workers, maintain payroll, and cover certain other existing overhead costs.
All businesses with 500 or less employees are eligible to apply for a PPP loan including: nonprofits, veterans’ organizations, tribal business concerns, sole proprietorships, self-employed individuals, and independent contractors.
Applicants are eligible to apply for the Paycheck Protection Program loan until June 30th, 2020. The covered period during which expenses can be forgiven extends from February 15, 2020 to June 30, 2020. Borrowers can choose which 8 weeks they want to count towards the covered period, which can start as early as February 15, 2020.
Your loan amount will be determined based upon your application and a review of your payroll costs from last year. Loan amounts can be for up to 2.5X your average monthly payroll costs, capped at $100,000 annualized for each employee.
You must have an existing USSFCU business membership to apply for an SBA loan through USSFCU.
>> CARES Act Borrower Information Sheet: https://home.treasury.gov/system/files/136/PPP–Fact-Sheet.pdf
For more information or to apply for a PPP loan, contact a USSFCU Business Representative at [email protected].
1 If you have accepted a deferment or extension on a current USSFCU loan in the past 90 days, you are ineligible for the USSFCU Relief Loan. Additionally, If you apply and your Relief Loan is approved and funded, you will be ineligible for deferment or extension on this loan or any other existing loan you have with USSFCU. All loans subject to credit approval. Loan amount based on creditworthiness. Total loan amount due in full due immediately at the end of 90 days.
2 Consolidation is not guaranteed and dependent on creditworthiness. May be required to pay off or close debts in order to consolidate. If you have accepted a deferment or extension on a current USSFCU loan in the past 90 days, you are ineligible for the USSFCU for further deferment. Additionally, if you have applied for the Relief Loan and it has been approved and funded, you will be ineligible for deferment or extension on this loan or any other existing loan with USSFCU. Interest will still accrue during the period of deferment. 3 APR = Annual Percentage Rate. Loans subject to credit approval. Rates and/or credit limits are based on creditworthiness, income and debts. Rates subject to change. Not all applicants will qualify for the lowest rate. As-low-as rate based on creditworthiness for a 24-month term loan. 4 First payment due date may be extended up to 90 days from the day the loan is funded. Limited time offer. USSFCU has the right to change, extend or terminate the offer at any time at their discretion.
5 You will be required to resume your payments the following month. The skipped payment amount will extend the maturity date of the loan. Interest will continue to accrue during the skipped period. Payment extensions are not available on any USSFCU Dream Home Loans, HELOCs, lines of credit or VISA® Credit Cards.