$500 Pre-Approved Loan
Did an expense come up unexpectedly that you're not quite equipped for? SSFCU has a pre-approved loan up to $500 (minimum $250), to help take care of those situations for our active duty/reservist members and their dependents who are active duty or reservist impacted by deployment. Unlike Payday lenders, you have 12 months to pay off the loan at a low, fixed special rate of 3.99% APR.1
$2,500 Military Emergency Loan
SSFCU provides this special loan for our Military members who need more than the pre-approved $500. The maximum term of this loan is 24 months at a low, fixed rate of 3.99% APR.1
Reduce Loan Rates to 6.00% APR
Under the Servicemember's Civil Relief Act (SCRA), members who become active duty military can have the rate on their existing loans at Security Service reduced to 6.00% APR.2 It can be applied to joint loans if any one of the borrowers is deployed with the military. This rate can also be applied to individual loans to the spouse of a deployed military member.
SSFCU will apply this rate reduction to existing loans for all of our members currently deployed in the armed forces whether they were active duty or not when the loan was made.
If you have already reported for duty out of town, the Request to Lower Rate form can be completed by mail or by person with Power of Attorney. The date at which the rate change is effective depends on whether the member was active duty or not when the loan was made. For members who were not active when the loan was made and become active duty, the rate change will be effective the date they became active duty. For members who were already in the military when the loan was made, the rate change is effective as of the date of the request.
Completed forms can be submitted to the credit union in person at a service center; by mail at 16211 La Cantera Pkwy., Attn: Central Lending, San Antonio, TX 78256; by fax at (210) 476-4647; or by email at ssfcu@ssfcu.org.
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1.) APR = Annual Percentage Rate. The 3.99% APR may not be used in conjunction with the auto-debit discount. Pre-approved Emergency Loans are for members, and their dependents, who are active duty or reservists impacted by deployment.
2.) Usual credit criteria apply. Qualified borrowers only.
Did an expense come up unexpectedly that you're not quite equipped for? SSFCU has a pre-approved loan up to $500 and a low fixed-rate of 3.99%.
Payday lenders may get you out of a bind for the moment, however this quick fix may be the start of a steady decline into suffocating debt
Find information pertaining to vehicle shipping and insurance, as well as additional resources to assist you during deployment activities.
Valuable and pertinent financial resources to help you make the best choices for you and your family.
