COVID-19 Stimulus Loan

          First Federal Credit Union has developed a unique COVID-19 Stimulus Loan to assist members affected by the temporary shutdown and wanting access to their stimulus payment they expect to receive. 

          The Stimulus Loan will provide up to a $3,400.00 unsecured loan at 0% interest for up to 90 days.  This will allow a member to borrow the amount they will be receiving and then payoff the loan once their stimulus payment is received.  Other Stimulus Loan terms include:

  • Loans up to amount of stimulus check
  • Up to 90 days with no interest
  • No monthly payments for 90 days
  • If loan is not paid off, 12-month repayment after initial 90 days
  • Low rate of 6.99% APY after no interest period
  • Proceeds must be deposited to FFCU checking account
  • Borrower must have been employed as of March 1
  • Loans can be paid off without penalty
  • Page 1 of tax return must be provided to document amount
  • Amount of stimulus check will be verified using the Stimulus Check Calculator
  • Minimum loan underwriting standards may apply
  • Requires borrower to be member in good standing with First Federal Credit Union

APPLY TODAY

 

Borrower Assistance

If you are concerned about making your next loan payment due to the impact of COVID-19,  complete this simple questionnaire and we will respond to you within 24 hours.  We want to put your mind at ease! 

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