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Loan Pause Program

Take a break from loan payments

Breathe a sigh of relief with our Loan Pause Program.*

Disclosures

*Loan Pause Program is not available for first mortgages, home equity loans and home equity lines of credit. Deferrals are subject to review and approval, which includes a review of your loan payment history for the last six consecutive months on all credit accounts. Finance charges will continue to accrue at the contract rate. Deferring a payment will result in higher total finance charges than if you made payments as originally scheduled and may extend the term of your loan(s). You can defer up to one payments per loan, with a maximum of six deferrals for the life of the loan under this program till November 30, 2020. A $30.00 fee will be automatically deducted from the share account you designate. If funds are not available in the designated share account, your deferred payment request will not be honored. For members who have Guaranteed Asset Protection (GAP), claim coverage may not extend to the amount of payment(s) deferred. Refer to your insurance contract for your coverage details. For members who have other insurance products attached to the loan, e.g. credit life, disability or debt protection, extending the life of the loan may void the insurance coverage. Refer to your specific insurance contract for terms, conditions and exclusions. Loan Pause Program is subject to change at any time.