Clico Credit Union

CCU Loan Waiver | September 2021

23 Sep 2021
Greetings Valued Members,

CLICO Credit Union (CCU) is aware of the ongoing challenges that the COVID-19 restrictions have placed on many of us.  As our country gradually progresses towards a sense of normalcy, CCU, “Your Life Partner For Financial Services,” is providing waiver options to help alleviate the financial hardship that may be experienced during the pandemic.

 

 

HOW TO APPLY:
  • Members are asked to fill out the Application for Loan Instalment Waiver Form
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3-MONTH WAIVER CONDITIONS

• A maximum 3-month waiver period will be available to members that qualify.

Qualification Criteria:

▪ A Member or his/her spouse experienced a reduction in income due to the COVID-19 pandemic as evidenced by payslips for the current and prior months.

▪ In the absence of a payslip due to layoff/termination, the member or his/her spouse must produce evidence via a termination letter from their respective employer(s).

▪ Self-employed members must produce bank statements for the prior three months

▪ Members’ accounts must be in good standing as of May 31, 2021.

• Waiver requests that do not meet the Qualification Criteria will not be considered.

• Members who have received arrears notices after May 31, 2021, will be eligible for loan restructuring.

• Members who are granted a waiver will not be granted new loans during the waived period.

• TTDF members whose run-off date falls within the waiver period may qualify once their ability to repay has been verified.

• Members who have already accessed a one (1) month waiver for the year will receive a maximum waiver of two (2) additional months.

• In the event of loans with a Guarantor or Co-Maker, both parties must consent to the waiver.

We are encouraging our Members to contact our Member Service Representatives at 624-0669 or email us at with any queries or challenges you may be facing. We look forward to supporting you, our members, as we continue to deal with the pandemic together.