Coronavirus Response & Relief
As we continue to navigate this historic Coronavirus health challenge, nothing is more important than protecting the health and financial well-being of our members, our employees and the communities we serve.
If you're not a member yet and are finding it difficult to keep current with your payment obligations, please contact us at 800-325-9905 or email firstname.lastname@example.org. We also have credit card or personal loan/line of credit options that may help during this time.
The following are options for existing members. For questions or to get started, please contact us at 800-325-9905 or email the address given in the description.
- Mortgage & home equity loan(s)
- You may be eligible for payment forbearance. Please email us here to see what options we can provide.
- Vehicle or personal loan(s)
You may be qualified to skip-a-payment ¹ or refinance ² your existing loan to potentially lower your payment. Please email us here to see what options we can provide.
- Savings & Money Market accounts
The Federal Reserve Board announced that it has amended Regulation D to allow members to make more than six transfers per month from these accounts.
The CAREs act repealed the restriction imposed by the Affordable Care Act that required products and medicines be prescribed to be a qualified medical expense, even if they are available withhout prescription.
Effective Juanuary 1, 2020 HSA owners are allowed to use their HSA assets to purchase OTC drugs and medications without prescription. The CARES Act also specifically listed OTC feminine care products as qualified medical expenses. Learn more here »
Together Credit Union, an U.S. Small Business Administration (SBA) preferred lender, has assisted 530+ new and current business members with Paycheck Protection Program (PPP) loan applications throughout the pandemic. The credit union’s average loan size of Round 1 and Round 2 PPP funding is $28,943.00, and more than 31% of the PPP loans awarded by the credit union went to minority or women-owned businesses.
As of May 5, 2021, the Small Business Administration announced it has exhausted its funds and will no longer accept new applications from non-CDFI lenders as a result. The SBA will continue funding outstanding approved PPP applications. For Together Credit Union PPP applicants with an SBA loan number, your loan will still be funded. For PPP applicants without an SBA loan number, funding will not be approved.
Moving forward, Together Credit Union will continue to advocate for COVID-19 relief options with lawmakers to help strengthen our business members. For questions, please contact your Business Loan Officer. For business members experiencing financial struggles due to the COVID-19 pandemic, Together Credit Union offers the following in-house relief options.
- Loan deferment
Loans in good standing may defer payments up to three months with no interest charge (interest will continue to accrue).
- Refinancing loan
We may be able to refinance or restructure your current business loan at the same rate for an extended term.
- Commercial real estate loans
Make interest-only payments for up to six months without significantly modifying your loan.
- Business line of credit
Interest-only payments on the balance borrowed. Draw from your line of credit as needed and repay the balance over time.
For questions or to get started, please contact 877-337-3399.
- Free Financial Counseling
A simple call to review all options and personalize an effective plan.
- Debt Management Plan
Recommended for credit card debt, members will set up a repayment plan to stop collection calls, reduce interest, eliminate fees, and pay off principal balance faster.
- Credit Report Review
A plan to help dispute inaccurate information and manage/know more about your credit score.
- Housing Services
Recommended for late rent or mortgage payments, experts will help determine which option is best to get members back on track.
- Student Debt Counseling
Discuss different options on what is the best way to pay off student loan debt.
- Helpful resources
Access complimentary eCourses, videos, webinars, and calculators on their website.
Managing Your Money Remotely
In addition to calling us at 800-325-9905 and drive-up services available in the St. Louis metro and Cedar Hill, TX areas, you can manage your financial transactions through:
Please Beware of Scams Related to Coronavirus
Unfortunately, scams designed to take advantage of consumer fears surrounding the Coronavirus are emerging. View the resources below to familiarize yourself with these scams and protect yourself:
- Visit our fraud page to learn more about these scams »
- The FTC offers several tips to avoid the most common Coronavirus scams
- Stay updated with consumer alerts from the FTC
1) If your loan is paid electronically or through payroll deduction, the money normally applied to your loan will be deposited into your specified savings or checking account. When processed, the due date will immediately advance. If your loan is paid automatically from your account at another financial institution, the funds for your payment will be taken from that account and deposited into your savings account, in lieu of your loan. Qualifying loan may not be delinquent. Interest will accrue on all loans affected by the program, which may cause maturity date to be extended. Loans with pending insurance claim do not qualify. If Guaranteed Asset Protection (GAP) is purchased for your collateral, this payment modification changes the original loan terms and could result in an increase of the net unpaid balance owed if a claim is filed; member remains fully liable for any portion of the unpaid balance. Skip-a-Payment fee waiver and extended time period for payment deferral are available as of 3/20/2020; availability subject to change without notice.
2) Loan must be open longer than 12 months to qualify; 12 month maximum term extension. Value Plus Auto Loans excluded.