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LMFCU Emergency Assistance Program

As of July 10, 2020
It is our goal to establish a detailed plan of action to assist members who experience financial hardship due to:

  • Government furlough
  • FEMA declared disaster in the member’s local area
  • CDC/WHO declared pandemic in the member’s local area

No one can ever fully prepare for a natural disaster, pandemic, or government furlough. LM Federal Credit Union understands the financial impact an unexpected event can have on individuals and families. Our representatives are here to assist you during difficult times.

For questions and to apply or initiate special services, please contact our Member Services Department at 800-410-0501.

Assistance Options available through January 1, 2021

  • Raised the existing daily maximum mobile check deposit limits. Members may also request a higher limit for their account.
  • Fee waivers for Skip-a-Pay requests on qualified loans
  • Emergency assistance loans of up to $3,000 at a fixed rate of 4.99% Annual Percentage Rate. Maximum repayment term of 2-years. Repayment may be delayed for up to 90 days after the loan has been issued.
  • Modified or extended payments on loans or lines of credit
  • Refunds of loan late fees and non-sufficient funds (NSF) fees upon request, where applicable
  • Penalty-free certificate withdrawals
  • Penalty-free club account withdrawals
  • Refund of LMFCU foreign ATM usage fees upon request
  • Expedited credit decisions for line increases on LMFCU lines of credit
  • New Home equity loans and home equity lines of credit to qualified borrowers
  • Free debt management services and financial education tools through our relationship with the Consumer Credit Counseling Service of MD/DC.

Additional Information:

President's Message

LOBBY REOPENED JULY 13TH

1 Member may be requested to provide proof of residence in an impacted area and/or temporary loss of income.
2 Finance charges (interest) will continue to accrue on a daily basis during the month(s) the payment(s) is/are skipped.

 

10/23/20