Furlough
On January 5th, 2010, the credit union became aware of the University of Illinois furlough announcement and members’ concerns over the personal financial impact that will result. Since UIECU is dedicated to serving the University of Illinois, it’s important to us to offer financial relief to those affected by these budgetary measures. If you need assistance during these unprecedented financial times, know that we have solutions for you.
UIECU offers solutions for every financial need. If you already have an account or loan at UIECU, we’ve designed a number of ways to help. If you are not a member yet, UIECU is waiting to assist you with your financial need. Please review the menu of accounts, services and special offers below that can help mitigate the effects of the furlough or a voluntary salary reduction.
Fill out the Financial Assistance Request Form below for assistance or more information.
Investment and Transaction Accounts
Checking Accounts
· Reduced rate (Prime + 3%) and reduced required payment (2% of balance or $25) through 12/31/10
Certificate of Deposit
Loans
Existing Loans
· Loan Re-Write
· Extend term to reduce payment
· First payment after re-write extended 60 days
· Skip-A-Pay
New Loans
· First payment extended 90 days
· Payoff loans from another lender – first payment extended 90 days
· Payday Alternative Loan – Waive 30 day membership requirement
· Small Personal Loans available from $500*
VISA
· Skip-A-Pay
· No transaction fee for balance transfers or cash advances*
*Existing credit union product not specifically implemented for furlough
Other
· Members considering retirement options – Consultation with
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