Payroll Disruption Relief Program
We understand that recent events have put a financial hardship on many of our members. MCCU is here to support you with personalized relief programs and provide guidance on financial wellness. Even if you are not yet a member, your local credit union is here to help with financial consultations! There are several options to assist you through a financial hardship:
Loan Payment Assistance
One time fee-free Skip-a-Pay1
No-cost extensions for up to 90 days on existing loans2
Penalty-Free Certificate Withdrawals
Members may request early withdrawals without penatlies
Payroll Disruption Relief Loans
Reduced Rate Term Loan up to $2,5003
Reduced Rate Line of Credit up to $2,5004
Free Financial Consultation Open to Everyone
Membership not required
1 Offer may be modified or discontinued at any time. Existing members may request a one-time payment skip with $25 fee waived on consumer loan accounts with verification of payroll disruption. Loan must not be more than 30 days delinquent and a minimum of 3 payments must be made prior to disruption. Offer does not apply to mortgages, credit cards, or home equity loans.
2 Offer may be modified or discontinued at any time. Interest will accrue during deferment period. First payment must be made on the due date disclosed in the loan agreement. Certain restrictions apply. Subject to credit approval.
3 Offer may be modified or discontinued at any time. Existing members must have payroll direct deposit established prior to loan origination. Term may be 12 or 24 months. Reduced Annual Percentage Rate is 3% lower than MCCU’s lowest available unsecured loan rate. Members may borrow up to two times their most recent regular net payroll deposit, not to exceed $2,500. Subject to credit approval. Limit one reduced rate loan per member.
4 Offer available to exisiting members and may be modified or discontinued at any time. Rate will be the current Prime Rate as established in the Wall Street Journal - 1.00% with a floor of 5% APR. Prime Rate as of 9/28/2023 is 8.50%. Maximum LOC $2,500. Subject to credit approval. Limit one LOC per member.Go to main navigation